Elastic (NYSE:ESTC) Short Interest Update

Elastic (NYSE:ESTC) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 2,340,000 shares, a decline of 5.6% from the December 15th total of 2,480,000 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average daily volume of 1,380,000 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Bank of America upped their target price on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Wedbush cut shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. increased their price target on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Finally, Jefferies Financial Group upped their target price on Elastic from $110.00 to $135.00 and gave the company 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $125.70.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the 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 sale, the insider now owns 92,011 shares in the company, valued at approximately $10,244,504.74. This represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $758,678.04. Following the completion of the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders have sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Elastic

A number of hedge funds have recently added to or reduced their stakes in ESTC. Janney Montgomery Scott LLC acquired a new stake in Elastic during the fourth quarter worth about $202,000. SG Americas Securities LLC bought a new position in shares of Elastic during the fourth quarter valued at approximately $7,293,000. Nisa Investment Advisors LLC raised its position in shares of Elastic by 3,442.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company’s stock worth $1,439,000 after purchasing an additional 14,115 shares during the period. Oak Thistle LLC bought a new stake in shares of Elastic in the 4th quarter worth approximately $357,000. Finally, FNY Investment Advisers LLC lifted 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 during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Trading Up 0.5 %

Shares of NYSE ESTC opened at $100.49 on Friday. The stock has a market capitalization of $10.41 billion, a P/E ratio of 182.70 and a beta of 1.06. The stock’s 50 day moving average price is $101.65 and its two-hundred day moving average price is $95.74. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06.

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.