Everence Capital Management Inc. Purchases New Position in Elastic (NYSE:ESTC)

Everence Capital Management Inc. acquired a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,780 shares of the company’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds also recently modified their holdings of ESTC. Asset Dedication LLC lifted its position in Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares in the last quarter. Quarry LP acquired a new stake in Elastic in the second quarter valued at approximately $40,000. Eastern Bank purchased a new stake in shares of Elastic during the third quarter valued at approximately $61,000. Headlands Technologies LLC lifted its position in shares of Elastic by 75.4% during the second quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after purchasing an additional 270 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Elastic by 21.2% in the third quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock valued at $198,000 after purchasing an additional 452 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley started coverage on shares of Elastic in a report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 price objective on the stock. Barclays boosted their price target on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. DA Davidson raised their price objective on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Bank of America upped their target price on Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elastic presently has an average rating of “Moderate Buy” and an average price target of $126.50.

Elastic Stock Down 2.9 %

Shares of Elastic stock opened at $98.76 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The business’s fifty day moving average price is $99.17 and its two-hundred day moving average price is $96.42. The company has a market capitalization of $10.23 billion, a P/E ratio of 179.56 and a beta of 1.06.

Insider Buying and Selling

In related news, CTO Shay Banon sold 150,000 shares of the firm’s 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 completion of the transaction, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock valued at $18,637,562 over the last quarter. Corporate insiders own 15.90% of the company’s stock.

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.