Assenagon Asset Management S.A. Sells 118,436 Shares of Elastic (NYSE:ESTC)

Assenagon Asset Management S.A. lessened its stake in shares of Elastic (NYSE:ESTC) by 31.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 255,012 shares of the company’s stock after selling 118,436 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.25% of Elastic worth $25,267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. 1832 Asset Management L.P. bought a new stake in Elastic during the second quarter valued at about $248,335,000. FMR LLC boosted its holdings in shares of Elastic by 25.6% in the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after buying an additional 1,115,750 shares in the last quarter. Atreides Management LP boosted its holdings in shares of Elastic by 57.2% in the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after buying an additional 614,309 shares in the last quarter. JAT Capital Mgmt LP grew its position in shares of Elastic by 601.4% in the 3rd quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock worth $35,736,000 after buying an additional 399,175 shares during the last quarter. Finally, Thematics Asset Management raised its stake in shares of Elastic by 463.3% during the 3rd quarter. Thematics Asset Management now owns 444,012 shares of the company’s stock worth $34,082,000 after acquiring an additional 365,192 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ESTC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Jefferies Financial Group increased their price target on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Barclays boosted their price target on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Oppenheimer increased their price objective on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Piper Sandler upped their price target on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.50.

Elastic Stock Up 0.7 %

ESTC stock opened at $99.87 on Friday. The firm’s fifty day moving average is $101.38 and its 200 day moving average is $95.98. The firm has a market cap of $10.35 billion, a PE ratio of 181.58 and a beta of 1.06. Elastic has a one year low of $69.00 and a one year high of $136.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction that occurred 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the transaction, the insider now directly owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,162 shares of company stock worth $18,637,562 in the last ninety days. Company insiders own 15.90% of the company’s stock.

Elastic 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.