Y Intercept Hong Kong Ltd Increases Holdings in Elastic (NYSE:ESTC)

Y Intercept Hong Kong Ltd raised its stake in shares of Elastic (NYSE:ESTC) by 432.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,887 shares of the company’s stock after buying an additional 12,902 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Elastic were worth $1,574,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. M&T Bank Corp raised its stake in Elastic by 3.1% during the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after buying an additional 139 shares during the last quarter. Sigma Planning Corp raised its stake in Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock valued at $389,000 after buying an additional 139 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Elastic by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after purchasing an additional 151 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Elastic by 7.0% in the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after purchasing an additional 201 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock worth $523,000 after purchasing an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Activity

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Royal Bank of Canada lifted 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. Oppenheimer lifted their target price on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Citigroup lifted their target price on Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company lifted their target price on Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Bank of America lifted their price objective on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Seven research 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’s stock. Based on data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus price target of $125.78.

Elastic Price Performance

NYSE ESTC opened at $102.99 on Wednesday. The company has a market capitalization of $10.67 billion, a PE ratio of 187.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The business’s fifty day moving average is $105.91 and its 200 day moving average is $95.41. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06.

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.