Nordea Investment Management AB Increases Stock Holdings in Elastic (NYSE:ESTC)

Nordea Investment Management AB lifted its stake in shares of Elastic (NYSE:ESTC) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,474 shares of the company’s stock after buying an additional 4,923 shares during the quarter. Nordea Investment Management AB owned about 0.08% of Elastic worth $8,014,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Quarry LP purchased a new stake in Elastic in the second quarter valued at $40,000. Eastern Bank purchased a new position in Elastic during the 3rd quarter worth approximately $61,000. Headlands Technologies LLC increased its position in Elastic by 75.4% during the second quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after buying an additional 270 shares during the period. Blue Trust Inc. lifted its stake in 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 buying an additional 452 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of Elastic in the third quarter valued at approximately $211,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Price Performance

Elastic stock opened at $97.94 on Friday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $99.86 and its 200 day simple moving average is $96.44. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The firm has a market capitalization of $10.15 billion, a PE ratio of 178.07 and a beta of 1.06.

Analyst Ratings Changes

ESTC has been the subject of several research reports. William Blair upgraded shares of Elastic from a “market perform” rating to an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their target price on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Guggenheim boosted their price target on Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Bank of America increased their price objective on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Oppenheimer boosted their target price on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.50.

Insider Buying and Selling at Elastic

In other news, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the completion of the sale, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. The trade was a 10.80 % 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 company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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.

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.