Slow Capital Inc. Purchases Shares of 50,861 Elastic (NYSE:ESTC)

Slow Capital Inc. bought a new position in Elastic (NYSE:ESTC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 50,861 shares of the company’s stock, valued at approximately $5,039,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in Elastic by 30.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,408 shares of the company’s stock valued at $239,000 after purchasing an additional 566 shares during the period. KBC Group NV boosted its position in Elastic by 42.2% during the 4th quarter. KBC Group NV now owns 3,435 shares of the company’s stock worth $340,000 after acquiring an additional 1,020 shares during the period. Geneos Wealth Management Inc. purchased a new position in Elastic during the 4th quarter valued at about $25,000. Janney Montgomery Scott LLC purchased a new position in Elastic during the 4th quarter valued at about $202,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Elastic in the fourth quarter worth approximately $7,293,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction 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 sale, the chief technology officer now directly owns 2,604,978 shares in the company, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,162 shares of company stock valued at $18,637,562. 15.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Robert W. Baird upgraded shares of Elastic from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $95.00 to $135.00 in a research report on Friday, November 22nd. Truist Financial boosted their target price on Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Scotiabank cut their price objective on shares of Elastic from $135.00 to $127.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, January 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Seven investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.35.

Elastic Stock Up 0.6 %

Elastic stock opened at $105.04 on Tuesday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 190.98 and a beta of 1.06. The company’s 50 day simple moving average is $103.34 and its 200 day simple moving average is $95.05.

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.