Citigroup Inc. Has $12.54 Million Position in Elastic (NYSE:ESTC)

Citigroup Inc. trimmed its position in shares of Elastic (NYSE:ESTCGet Rating) by 16.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,004 shares of the company’s stock after selling 27,792 shares during the quarter. Citigroup Inc. owned approximately 0.15% of Elastic worth $12,542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ESTC. Oppenheimer & Co. Inc. grew its stake in shares of Elastic by 11.2% in the first quarter. Oppenheimer & Co. Inc. now owns 8,921 shares of the company’s stock worth $794,000 after purchasing an additional 902 shares during the last quarter. HighTower Advisors LLC increased its holdings in Elastic by 9.5% in the first quarter. HighTower Advisors LLC now owns 6,472 shares of the company’s stock valued at $576,000 after purchasing an additional 564 shares during the period. Blueshift Asset Management LLC acquired a new stake in Elastic in the first quarter valued at $751,000. Cambridge Investment Research Advisors Inc. increased its holdings in Elastic by 17.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,780 shares of the company’s stock valued at $514,000 after purchasing an additional 848 shares during the period. Finally, Jeneq Management LP acquired a new stake in Elastic in the first quarter valued at $489,000. 74.31% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Janesh Moorjani sold 2,663 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $75.82, for a total value of $201,908.66. Following the transaction, the chief financial officer now owns 78,924 shares of the company’s stock, valued at approximately $5,984,017.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Janesh Moorjani sold 2,663 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $75.82, for a total value of $201,908.66. Following the transaction, the chief financial officer now owns 78,924 shares of the company’s stock, valued at approximately $5,984,017.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 3,690 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $75.82, for a total transaction of $279,775.80. Following the completion of the transaction, the chief executive officer now directly owns 133,622 shares in the company, valued at approximately $10,131,220.04. The disclosure for this sale can be found here. Insiders sold a total of 12,603 shares of company stock worth $937,184 in the last three months. Company insiders own 18.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ESTC shares. Jefferies Financial Group decreased their price objective on Elastic from $90.00 to $60.00 in a report on Monday, May 23rd. Canaccord Genuity Group started coverage on Elastic in a report on Thursday, July 7th. They issued a “buy” rating and a $100.00 price objective for the company. Truist Financial decreased their price objective on Elastic from $110.00 to $105.00 and set a “buy” rating for the company in a report on Monday, July 18th. Monness Crespi & Hardt downgraded Elastic from a “buy” rating to a “neutral” rating in a report on Thursday, August 11th. Finally, Piper Sandler increased their price target on Elastic from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, August 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and an average target price of $123.85.

Elastic Stock Performance

Shares of ESTC opened at $81.74 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.96 and a quick ratio of 1.96. The stock has a 50-day moving average of $79.02 and a 200-day moving average of $77.55. The company has a market cap of $7.76 billion, a PE ratio of -31.93 and a beta of 1.17. Elastic has a one year low of $50.74 and a one year high of $189.84.

Elastic Profile

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Elastic N.V., a search company, delivers technology 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 perform search, analysis, and visualization.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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