Neumann Advisory Hong Kong Ltd Sells 90,622 Shares of Elastic (NYSE:ESTC)

Neumann Advisory Hong Kong Ltd decreased its holdings in shares of Elastic (NYSE:ESTC) by 57.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,730 shares of the company’s stock after selling 90,622 shares during the period. Elastic makes up approximately 1.9% of Neumann Advisory Hong Kong Ltd’s holdings, making the stock its 6th largest position. Neumann Advisory Hong Kong Ltd’s holdings in Elastic were worth $6,612,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ESTC. Blueshift Asset Management LLC acquired a new position in Elastic in the 3rd quarter valued at $585,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after acquiring an additional 14,590 shares in the last quarter. Bangor Savings Bank acquired a new position in shares of Elastic during the fourth quarter worth about $1,657,000. Fifth Third Wealth Advisors LLC purchased a new position in Elastic during the third quarter worth about $1,262,000. Finally, Vestcor Inc purchased a new stake in Elastic in the 3rd quarter valued at approximately $1,919,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction that occurred on 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 trade 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 is available at the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the company’s 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 transaction, the insider now directly owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 168,162 shares of company stock worth $18,637,562. Insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Oppenheimer boosted their target price on shares of Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group increased their price target on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. Finally, Scotiabank dropped their target price on shares of Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a report on Tuesday, January 21st. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and an average target price of $125.35.

Elastic Stock Performance

NYSE:ESTC opened at $104.39 on Monday. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The firm has a 50 day simple moving average of $102.96 and a 200-day simple moving average of $95.15. The firm has a market cap of $10.82 billion, a PE ratio of 189.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

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.