Y.D. More Investments Ltd Has $2.93 Million Position in Elastic (NYSE:ESTC)

Y.D. More Investments Ltd lifted its position in shares of Elastic (NYSE:ESTC) by 9.9% during the 4th quarter, Holdings Channel reports. The firm owned 29,597 shares of the company’s stock after purchasing an additional 2,660 shares during the quarter. Y.D. More Investments Ltd’s holdings in Elastic were worth $2,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new position in Elastic during the fourth quarter worth $25,000. Eastern Bank acquired a new position in shares of Elastic during the 3rd quarter worth approximately $61,000. FNY Investment Advisers LLC increased its holdings 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 purchasing an additional 349 shares during the period. Blue Trust Inc. raised its position in shares of Elastic by 21.2% in the third quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock valued at $198,000 after buying an additional 452 shares in the last quarter. Finally, Stephens Consulting LLC bought a new stake in shares of Elastic in the fourth quarter valued at approximately $198,000. 97.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays raised their price objective on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Guggenheim raised their price target on Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Robert W. Baird upgraded shares of Elastic from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $95.00 to $135.00 in a research note on Friday, November 22nd. Piper Sandler raised their target price on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Truist Financial raised their target price on Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Seven 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.35.

Elastic Stock Performance

Shares of ESTC stock opened at $115.49 on Wednesday. The firm has a 50 day moving average of $104.92 and a 200-day moving average of $94.93. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 209.98 and a beta of 1.07. 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 52 week low of $69.00 and a 52 week high of $136.06.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction 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 transaction, the insider now owns 92,011 shares in the company, valued at approximately $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 2,604,978 shares of the company’s stock, valued at approximately $288,944,159.76. The trade was a 5.44 % 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 worth $18,637,562. 15.90% of the stock is currently owned by company insiders.

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.