KBC Group NV Has $340,000 Stake in Elastic (NYSE:ESTC)

KBC Group NV increased its stake in shares of Elastic (NYSE:ESTC) by 42.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,435 shares of the company’s stock after acquiring an additional 1,020 shares during the quarter. KBC Group NV’s holdings in Elastic were worth $340,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Creative Planning increased its stake in Elastic by 21.5% in the 2nd quarter. Creative Planning now owns 9,413 shares of the company’s stock valued at $1,072,000 after buying an additional 1,668 shares during the last quarter. Quarry LP purchased a new stake in shares of Elastic during the second quarter worth $40,000. Handelsbanken Fonder AB lifted its holdings in shares of Elastic by 13.3% in the third quarter. Handelsbanken Fonder AB now owns 18,800 shares of the company’s stock worth $1,443,000 after buying an additional 2,200 shares in the last quarter. Neumann Advisory Hong Kong Ltd bought a new position in shares of Elastic in the third quarter worth $12,078,000. Finally, Blue Zone Wealth Advisors LLC raised its stake in Elastic by 60.0% in the third quarter. Blue Zone Wealth Advisors LLC now owns 45,661 shares of the company’s stock valued at $3,505,000 after purchasing an additional 17,119 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Stock Up 2.1 %

ESTC stock opened at $112.89 on Monday. The company has a market cap of $11.70 billion, a PE ratio of 205.25 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 quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $104.83 and a 200 day simple moving average of $94.90.

Analyst Upgrades and Downgrades

ESTC has been the subject of several analyst reports. Jefferies Financial Group upped their price target on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Oppenheimer upped their price target on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Bank of America raised their price target on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Scotiabank reduced their price target on shares of Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a research note on Tuesday, January 21st. Finally, Canaccord Genuity Group increased their price objective on shares of Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.35.

Insiders Place Their Bets

In related news, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the transaction, the insider now directly owns 92,011 shares in the company, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock valued at $18,637,562 over the last ninety days. 15.90% of the stock is currently 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.