Oak Thistle LLC Invests $357,000 in Elastic (NYSE:ESTC)

Oak Thistle LLC bought a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, Holdings Channel reports. The fund bought 3,601 shares of the company’s stock, valued at approximately $357,000.

Several other hedge funds have also modified their holdings of the stock. FMR LLC increased its stake in Elastic by 25.6% in the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after purchasing an additional 1,115,750 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Elastic in the second quarter worth approximately $248,335,000. Atreides Management LP raised its holdings in shares of Elastic by 57.2% during the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after acquiring an additional 614,309 shares during the period. State Street Corp lifted its position in shares of Elastic by 2.3% in the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock valued at $110,323,000 after acquiring an additional 31,663 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Elastic by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock valued at $107,058,000 after acquiring an additional 50,355 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Trading Up 0.7 %

NYSE:ESTC opened at $99.87 on Friday. The company’s 50 day moving average is $101.38 and its 200-day moving average is $95.98. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of 181.58 and a beta of 1.06.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was 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 in the company, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ESTC. Robert W. Baird raised shares of Elastic from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $95.00 to $135.00 in a research note on Friday, November 22nd. Rosenblatt Securities reissued a “buy” rating and set a $120.00 price target on shares of Elastic in a research report on Wednesday, November 20th. Morgan Stanley assumed coverage on Elastic in a research report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price objective for the company. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.50.

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.