Public Employees Retirement System of Ohio Sells 1,472 Shares of Elastic (NYSE:ESTC)

Public Employees Retirement System of Ohio lessened its stake in shares of Elastic (NYSE:ESTC) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,548 shares of the company’s stock after selling 1,472 shares during the period. Public Employees Retirement System of Ohio’s holdings in Elastic were worth $2,268,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ESTC. 1832 Asset Management L.P. bought a new position in shares of Elastic during the 2nd quarter valued at approximately $248,335,000. FMR LLC boosted its position in shares of Elastic by 25.6% in the third 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 during the period. Atreides Management LP increased its stake in shares of Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after purchasing an additional 614,309 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Elastic by 32,630.2% during the 2nd quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock valued at $70,129,000 after purchasing an additional 613,774 shares during the period. Finally, JAT Capital Mgmt LP lifted its stake in shares of Elastic by 601.4% during the 3rd quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after buying an additional 399,175 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Up 2.5 %

Shares of NYSE:ESTC opened at $107.21 on Wednesday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $92.27 and its 200 day moving average is $97.30. The stock has a market cap of $11.11 billion, a P/E ratio of 194.93 and a beta of 1.02. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06.

Analyst Ratings Changes

A number of research firms have recently weighed in on ESTC. Oppenheimer upped their price objective on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Robert W. Baird upgraded shares of Elastic from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $95.00 to $135.00 in a research report 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 research note on Friday, November 22nd. TD Cowen decreased their price target on shares of Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Finally, Barclays increased their price objective on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $126.50.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 150,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total value of $16,638,000.00. Following the completion of the sale, the chief technology officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the 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 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 disclosure for this sale can be found here. Corporate insiders own 15.90% of the company’s stock.

Elastic Company 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.