Abacus FCF Advisors LLC Invests $2.96 Million in Elastic N.V. $ESTC
Abacus FCF Advisors LLC has invested approximately $2.96 million in Elastic N.V. (NYSE:ESTC) by acquiring 35,152 shares during the second quarter. Other institutional investors have also increased their stakes in Elastic, with Bank of New York Mellon Corp raising its position by 4.6%. Analysts have issued positive ratings, with target prices ranging from $105 to $122. Elastic's stock performance shows a market cap of $9.48 billion and a PE ratio of -111.45. Recent insider transactions include CEO Ashutosh Kulkarni selling shares valued at $1.77 million.
Abacus FCF Advisors LLC purchased a new position in shares of Elastic N.V. (NYSE:ESTC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 35,152 shares of the company's stock, valued at approximately $2,964,000.
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Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Elastic by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 504,823 shares of the company's stock valued at $44,980,000 after buying an additional 22,005 shares during the last quarter. Cetera Investment Advisers raised its position in Elastic by 13.3% in the 4th quarter. Cetera Investment Advisers now owns 7,203 shares of the company's stock valued at $714,000 after buying an additional 843 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Elastic in the 1st quarter valued at approximately $205,000. Teacher Retirement System of Texas raised its position in Elastic by 26.6% in the 1st quarter. Teacher Retirement System of Texas now owns 18,130 shares of the company's stock valued at $1,615,000 after buying an additional 3,813 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Elastic by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 429,526 shares of the company's stock valued at $38,271,000 after buying an additional 12,510 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Robert W. Baird lifted their target price on Elastic from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Morgan Stanley lifted their target price on Elastic from $115.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Guggenheim raised their price target on Elastic from $107.00 to $122.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Scotiabank restated an "outperform" rating on shares of Elastic in a research note on Friday, August 29th. Finally, Mizuho raised their price target on Elastic from $100.00 to $119.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $120.00.
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Read Our Latest Stock Report on Elastic
Elastic Stock Performance
ESTC opened at $89.16 on Friday. The business has a fifty day simple moving average of $83.74 and a 200 day simple moving average of $85.64. The company has a market capitalization of $9.48 billion, a PE ratio of -111.45 and a beta of 1.04. Elastic N.V. has a 1 year low of $70.14 and a 1 year high of $118.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09.
Insider Transactions at Elastic
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In other Elastic news, CEO Ashutosh Kulkarni sold 19,622 shares of Elastic stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $1,768,334.64. Following the completion of the transaction, the chief executive officer directly owned 457,314 shares of the company's stock, valued at $41,213,137.68. The trade was a 4.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ken Exner sold 6,290 shares of Elastic stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $566,854.80. Following the completion of the transaction, the insider directly owned 233,582 shares of the company's stock, valued at $21,050,409.84. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 352,036 shares of company stock worth $31,080,886. Corporate insiders own 12.70% of the company's stock.
Elastic Profile
(Free Report)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.
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