State Street Corp Has $110.32 Million Stock Position in Elastic (NYSE:ESTC)

State Street Corp increased its stake in shares of Elastic (NYSE:ESTC) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,437,243 shares of the company’s stock after purchasing an additional 31,663 shares during the period. State Street Corp owned approximately 1.40% of Elastic worth $110,323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ESTC. 1832 Asset Management L.P. acquired a new position in shares of Elastic during the 2nd quarter worth about $248,335,000. FMR LLC raised its position in shares of Elastic by 25.6% in the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after acquiring an additional 1,115,750 shares during the period. Atreides Management LP boosted its stake in Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after acquiring an additional 614,309 shares during the last quarter. Federated Hermes Inc. grew its holdings in Elastic by 32,630.2% during the second 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 increased its stake in Elastic by 601.4% in the third quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after purchasing an additional 399,175 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total value of $16,638,000.00. Following the sale, the chief technology officer now owns 2,604,978 shares in the company, valued at $288,944,159.76. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the transaction, the insider now owns 92,011 shares of the company’s stock, valued at $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. 15.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ESTC shares. Robert W. Baird raised shares of Elastic from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $95.00 to $135.00 in a report on Friday, November 22nd. Bank of America boosted their target price on Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. The Goldman Sachs Group raised their price target on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada boosted their price objective on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, William Blair raised Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.33.

Elastic Stock Down 3.0 %

ESTC stock opened at $104.05 on Monday. The company has a market cap of $10.78 billion, a price-to-earnings ratio of 189.18 and a beta of 1.02. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The business has a 50 day moving average price of $91.72 and a two-hundred day moving average price of $97.22. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

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.