Elastic (NYSE:ESTC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Elastic (NYSE:ESTC) by 90.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,058 shares of the company’s stock after selling 68,506 shares during the period. Principal Financial Group Inc.’s holdings in Elastic were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. CIBC Asset Management Inc bought a new stake in shares of Elastic during the 2nd quarter worth about $320,000. Victory Capital Management Inc. lifted its holdings in shares of Elastic by 23.4% during the second quarter. Victory Capital Management Inc. now owns 20,330 shares of the company’s stock valued at $2,316,000 after purchasing an additional 3,851 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Elastic by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 23,987 shares of the company’s stock valued at $2,732,000 after purchasing an additional 713 shares during the period. Asset Dedication LLC raised its holdings in shares of Elastic by 1,333.3% during the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after acquiring an additional 280 shares during the period. Finally, Emerald Advisers LLC acquired a new stake in shares of Elastic in the second quarter worth $264,000. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ESTC shares. Citigroup boosted their target price on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. Barclays raised their price objective on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. The Goldman Sachs Group boosted their price objective on Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada increased their target price on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.50.

Elastic Price Performance

Shares of ESTC opened at $101.40 on Monday. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The company has a market cap of $10.51 billion, a price-to-earnings ratio of 184.36 and a beta of 1.06. The company’s fifty day simple moving average is $98.37 and its 200 day simple moving average is $96.54. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 150,000 shares of the business’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 completion of the transaction, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by insiders.

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.