Ingalls & Snyder LLC Sells 118 Shares of Elastic (NYSE:ESTC)

Ingalls & Snyder LLC lessened its stake in Elastic (NYSE:ESTC) by 1.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,632 shares of the company’s stock after selling 118 shares during the quarter. Ingalls & Snyder LLC’s holdings in Elastic were worth $954,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in Elastic during the 4th quarter valued at about $25,000. FNY Investment Advisers LLC increased its holdings in shares of Elastic by 87.3% in the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after purchasing an additional 349 shares in the last quarter. Eastern Bank bought a new stake in shares of Elastic in the 3rd quarter worth $61,000. Stephens Consulting LLC purchased a new position in shares of Elastic in the fourth quarter worth $198,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Elastic during the fourth quarter valued at $202,000. Institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

Shares of Elastic stock opened at $117.80 on Friday. The stock’s 50-day simple moving average is $105.43 and its 200-day simple moving average is $95.29. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 214.19 and a beta of 1.07. 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.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the 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 transaction, the insider now owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This represents a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock valued at $18,637,562 in the last three months. 15.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ESTC shares. Barclays lifted their price objective on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Oppenheimer boosted their price objective on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Rosenblatt Securities restated a “buy” rating and issued a $120.00 target price on shares of Elastic in a report on Wednesday, November 20th. Wells Fargo & Company raised their price target on Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Truist Financial upped their price objective on Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Elastic has an average rating of “Moderate Buy” and an average target price of $125.35.

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.