Migdal Insurance & Financial Holdings Ltd. Has $25.76 Million Stock Position in Elastic (NYSE:ESTC)

Migdal Insurance & Financial Holdings Ltd. reduced its position in shares of Elastic (NYSE:ESTC) by 28.8% in the 4th quarter, Holdings Channel reports. The firm owned 260,000 shares of the company’s stock after selling 105,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Elastic were worth $25,761,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ESTC. M&T Bank Corp increased its holdings in shares of Elastic by 3.1% during the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after buying an additional 139 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after buying an additional 201 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Elastic by 3.3% during the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock worth $523,000 after buying an additional 219 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Elastic during the fourth quarter worth $25,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of Elastic by 12.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company’s stock worth $229,000 after buying an additional 332 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

Shares of NYSE ESTC opened at $114.36 on Friday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 207.93 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 firm’s 50-day simple moving average is $105.10 and its 200 day simple moving average is $95.20.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic 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 owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction that occurred 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. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,162 shares of company stock valued at $18,637,562. 15.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ESTC shares. Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Citigroup increased their price objective on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Scotiabank decreased their price objective on Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada increased their price objective on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Wedbush downgraded Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.35.

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.