Elastic (NYSE:ESTC) Short Interest Update

Elastic (NYSE:ESTC) was the recipient of 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. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is presently 1.7 days. Approximately 2.6% of the shares of the company are short sold.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $100.49 on Monday. The firm’s 50 day simple moving average is $101.65 and its 200 day simple moving average is $95.60. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 182.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Royal Bank of Canada raised their price target on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. The Goldman Sachs Group boosted their price objective on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Bank of America raised their target price on Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Citigroup upped their price target on shares of Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Seven equities 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 stock. According to data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $125.70.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of Elastic 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 completion of the transaction, the insider now directly owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the sale, the chief technology officer now directly owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,162 shares of company stock worth $18,637,562 over the last 90 days. Corporate insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

Several large investors have recently bought and sold shares of ESTC. M&T Bank Corp increased its position in shares of Elastic by 3.1% in the 3rd 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 in the last quarter. QRG Capital Management Inc. grew its stake in Elastic by 7.0% in the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after acquiring an additional 201 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Elastic by 3.3% in the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock worth $523,000 after acquiring an additional 219 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position 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 purchasing an additional 332 shares during the period. Finally, FNY Investment Advisers LLC lifted its holdings in shares of Elastic by 87.3% during the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock valued at $74,000 after purchasing an additional 349 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

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.