Bangor Savings Bank Buys New Position in Elastic (NYSE:ESTC)

Bangor Savings Bank purchased a new stake in Elastic (NYSE:ESTC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 16,725 shares of the company’s stock, valued at approximately $1,657,000.

Several other large investors have also added to or reduced their stakes in the stock. Asset Dedication LLC grew its holdings in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares during the period. Quarry LP purchased a new stake in Elastic in the second quarter worth $40,000. Headlands Technologies LLC raised its holdings in Elastic by 75.4% in the second quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after purchasing an additional 270 shares in the last quarter. Eastern Bank purchased a new position in Elastic during the third quarter valued at $61,000. Finally, NINE MASTS CAPITAL Ltd purchased a new position in Elastic during the second quarter valued at $228,000. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ESTC. Scotiabank increased their price target on shares of Elastic from $92.00 to $135.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Morgan Stanley initiated coverage on Elastic in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 price target on the stock. Wedbush lowered Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Barclays lifted their price objective on Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $126.50.

Elastic Stock Up 0.2 %

ESTC opened at $101.60 on Tuesday. The firm’s 50 day simple moving average is $98.81 and its two-hundred day simple moving average is $96.49. The company has a market capitalization of $10.53 billion, a PE ratio of 184.73 and a beta of 1.06. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the transaction, the chief technology officer now directly owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction that occurred 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 directly owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock worth $18,637,562 in the last three months. Corporate insiders own 15.90% of the company’s stock.

Elastic Profile

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.