Elastic (NYSE:ESTC) Short Interest Update

Elastic (NYSE:ESTC) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 2,340,000 shares, a decrease of 5.6% from the December 15th total of 2,480,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average daily volume of 1,380,000 shares, the short-interest ratio is presently 1.7 days.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. This represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the completion of the sale, the insider now owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,162 shares of company stock valued at $18,637,562. Insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp raised its stake in Elastic by 3.1% during the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after acquiring an additional 139 shares in the last quarter. QRG Capital Management Inc. increased its position in Elastic by 7.0% during the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after purchasing an additional 201 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after purchasing an additional 219 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in Elastic by 12.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company’s stock valued at $229,000 after buying an additional 332 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its stake in shares of Elastic by 87.3% during the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after buying an additional 349 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic Trading Up 0.5 %

Shares of ESTC stock opened at $100.49 on Monday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The stock’s fifty day moving average price is $101.65 and its two-hundred day moving average price is $95.60. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market cap of $10.41 billion, a PE ratio of 182.70 and a beta of 1.06.

Analysts Set New Price Targets

Several analysts have issued reports on ESTC shares. Scotiabank raised their price objective on Elastic from $92.00 to $135.00 and gave the company a “sector outperform” rating in a research report on Friday, November 22nd. Guggenheim raised their price target on Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Baird R W upgraded shares of Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. The Goldman Sachs Group raised their target price on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 price target on shares of Elastic in a research note on Wednesday, November 20th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $125.70.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.