BNP Paribas Financial Markets Purchases 43,772 Shares of Elastic (NYSE:ESTC)

BNP Paribas Financial Markets grew its holdings in shares of Elastic (NYSE:ESTC) by 190.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,786 shares of the company’s stock after buying an additional 43,772 shares during the period. BNP Paribas Financial Markets’ holdings in Elastic were worth $5,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quantbot Technologies LP bought a new stake in shares of Elastic in the 3rd quarter worth approximately $1,786,000. FMR LLC boosted its holdings in 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 acquiring an additional 1,115,750 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Elastic by 12.0% in the third quarter. The Manufacturers Life Insurance Company now owns 16,431 shares of the company’s stock worth $1,261,000 after acquiring an additional 1,757 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of Elastic by 7.4% during the third quarter. Penserra Capital Management LLC now owns 51,880 shares of the company’s stock valued at $3,981,000 after acquiring an additional 3,561 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Elastic by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after purchasing an additional 14,590 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 19,649 shares of Elastic stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the sale, the chief executive officer now owns 432,648 shares of the company’s stock, valued at approximately $30,393,522. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 2,666 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the transaction, the chief technology officer now owns 4,543,190 shares of the company’s stock, valued at $319,159,097.50. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,551 shares of company stock valued at $20,506,656 over the last 90 days. 15.90% of the stock is currently owned by corporate insiders.

Elastic Stock Down 0.1 %

ESTC stock opened at $112.95 on Wednesday. The business’s 50-day moving average price is $85.99 and its 200-day moving average price is $97.04. The stock has a market cap of $11.71 billion, a P/E ratio of 205.35 and a beta of 1.02. 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 twelve month low of $69.00 and a twelve month high of $136.06.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Baird R W upgraded shares of Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Rosenblatt Securities restated a “buy” rating and issued a $120.00 price objective on shares of Elastic in a report on Wednesday, November 20th. Stifel Nicolaus increased their target price on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Jefferies Financial Group boosted their price target on Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Guggenheim increased their price objective on Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.33.

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.