M&T Bank Corp Buys 139 Shares of Elastic (NYSE:ESTC)

M&T Bank Corp increased its stake in Elastic (NYSE:ESTC) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,652 shares of the company’s stock after purchasing an additional 139 shares during the period. M&T Bank Corp’s holdings in Elastic were worth $357,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Signaturefd LLC raised its position in shares of Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares during the last quarter. QRG Capital Management Inc. lifted its position in Elastic by 7.0% during the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after purchasing an additional 201 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after purchasing an additional 219 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Elastic by 75.4% during the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after acquiring an additional 270 shares during the last quarter. Finally, Asset Dedication LLC grew its stake in shares of Elastic by 1,333.3% during the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ESTC. TD Cowen reduced their target price on Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Canaccord Genuity Group raised their price objective on Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Guggenheim lifted their target price on Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada increased their price target on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Citigroup lifted their price objective on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.50.

Elastic Trading Down 3.1 %

NYSE ESTC opened at $103.91 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average of $92.89 and a 200-day moving average of $97.32. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a market cap of $10.77 billion, a PE ratio of 188.93 and a beta of 1.02.

Insider Activity

In other news, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 150,000 shares of Elastic 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 $288,944,159.76. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.90% of the company’s stock.

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.