180 Wealth Advisors LLC Cuts Holdings in Elastic (NYSE:ESTC)

180 Wealth Advisors LLC lowered its stake in shares of Elastic (NYSE:ESTC) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,433 shares of the company’s stock after selling 162 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Elastic were worth $637,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ESTC. Victory Capital Management Inc. raised its position in Elastic by 23.4% during the second quarter. Victory Capital Management Inc. now owns 20,330 shares of the company’s stock valued at $2,316,000 after purchasing an additional 3,851 shares in the last quarter. Headlands Technologies LLC raised its holdings in shares of Elastic by 75.4% during the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after buying an additional 270 shares in the last quarter. American Century Companies Inc. lifted its position in Elastic by 10.0% in the 2nd quarter. American Century Companies Inc. now owns 30,410 shares of the company’s stock worth $3,464,000 after buying an additional 2,777 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Elastic by 7.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 19,746 shares of the company’s stock worth $2,261,000 after buying an additional 1,401 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Elastic by 4.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 55,823 shares of the company’s stock valued at $6,359,000 after acquiring an additional 2,586 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now owns 395,326 shares of the company’s stock, valued at $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Elastic in a research note on Wednesday, November 20th. Oppenheimer upped their price target on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Wells Fargo & Company lifted their price objective on Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Guggenheim increased their target price on Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Bank of America lifted their price target on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $126.50.

Elastic Trading Up 2.1 %

ESTC opened at $98.04 on Wednesday. The stock has a market cap of $10.16 billion, a PE ratio of 178.25 and a beta of 1.06. The business has a 50 day moving average of $100.52 and a 200-day moving average of $96.04. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

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.