Cantor Fitzgerald Upgrades Elastic (NYSE:ESTC) to “Hold”

Cantor Fitzgerald upgraded shares of Elastic (NYSE:ESTC) to a hold rating in a research note published on Thursday, Marketbeat Ratings reports. They currently have $108.00 price target on the stock.

ESTC has been the subject of several other research reports. Jefferies Financial Group boosted their price target on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Truist Financial increased their target price on Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Scotiabank boosted their price target on Elastic from $92.00 to $135.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Morgan Stanley began coverage on shares of Elastic in a report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 price target on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Seven investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.70.

Elastic Stock Up 0.5 %

Shares of NYSE ESTC opened at $100.49 on Thursday. The stock has a 50 day moving average price of $101.65 and a 200 day moving average price of $95.74. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 182.70 and a beta of 1.06. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Insider Activity at Elastic

In related news, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction on 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 sale, the insider now owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction 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 directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Elastic

Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its stake in Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after purchasing an additional 1,115,750 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Elastic in the second quarter worth about $248,335,000. Atreides Management LP boosted its position in Elastic by 57.2% during the third 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. State Street Corp grew its stake in Elastic by 2.3% during the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock valued at $110,323,000 after acquiring an additional 31,663 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Elastic by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock valued at $107,058,000 after acquiring an additional 50,355 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.