FMR LLC lifted its position in Elastic NV (NYSE:ESTC) by 110.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,046,489 shares of the company’s stock after purchasing an additional 549,862 shares during the quarter. FMR LLC owned about 1.43% of Elastic worth $83,582,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Pearl River Capital LLC bought a new stake in Elastic during the first quarter worth approximately $32,000. Barclays PLC bought a new position in shares of Elastic during the fourth quarter valued at approximately $40,000. Victory Capital Management Inc. bought a new position in shares of Elastic during the fourth quarter valued at approximately $42,000. Botty Investors LLC bought a new position in shares of Elastic during the first quarter valued at approximately $66,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Elastic during the fourth quarter valued at approximately $100,000. 40.59% of the stock is currently owned by hedge funds and other institutional investors.
Elastic stock traded up $1.04 during mid-day trading on Friday, reaching $98.81. 1,220,381 shares of the company were exchanged, compared to its average volume of 1,506,956. Elastic NV has a 12-month low of $58.55 and a 12-month high of $100.43. The firm’s fifty day moving average is $80.78. The firm has a market cap of $7.37 billion and a price-to-earnings ratio of -54.89.
In other Elastic news, CRO Aaron Katz sold 15,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $84.74, for a total transaction of $1,271,100.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP W.H. Baird Garrett sold 6,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $94.00, for a total value of $564,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,529,440 shares of company stock worth $121,933,434. 51.80% of the stock is owned by insiders.
A number of research firms have recently commented on ESTC. FBN Securities began coverage on Elastic in a research note on Tuesday, April 2nd. They set an “outperform” rating on the stock. Bank of America set a $20.00 target price on Fiat Chrysler Automobiles and gave the company a “hold” rating in a research note on Thursday, June 6th. KeyCorp lowered their price target on PolyOne from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $185.00 price target (up previously from $150.00) on shares of Mongodb in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $93.92.
Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.
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