Goldman Sachs Group Inc. Has $94 Million Stake in Elastic (NYSE:ESTC)

Goldman Sachs Group Inc. boosted its position in shares of Elastic (NYSE:ESTCFree Report) by 77.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 834,033 shares of the company’s stock after buying an additional 364,418 shares during the period. Goldman Sachs Group Inc. owned approximately 0.84% of Elastic worth $93,996,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ESTC. Rakuten Securities Inc. acquired a new stake in Elastic during the fourth quarter worth about $25,000. Covestor Ltd boosted its stake in shares of Elastic by 168.3% in the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after purchasing an additional 281 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Elastic in the 4th quarter valued at approximately $39,000. Cypress Capital Management LLC WY acquired a new stake in shares of Elastic in the 4th quarter valued at approximately $45,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Elastic in the 4th quarter valued at approximately $97,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the sale, the director now owns 8,382,000 shares in the company, valued at approximately $817,580,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Shay Banon sold 20,000 shares of Elastic stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $101.52, for a total value of $2,030,400.00. Following the completion of the sale, the chief technology officer now owns 3,054,978 shares of the company’s stock, valued at approximately $310,141,366.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the sale, the director now directly owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The disclosure for this sale can be found here. Insiders sold 935,192 shares of company stock worth $91,717,690 in the last quarter. 18.10% of the stock is owned by corporate insiders.

Elastic Stock Performance

NYSE:ESTC opened at $112.77 on Tuesday. The company has a fifty day moving average of $103.18 and a 200-day moving average of $109.14. The firm has a market capitalization of $11.37 billion, a P/E ratio of 212.77 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. Elastic has a twelve month low of $57.38 and a twelve month high of $136.06.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird reduced their price target on shares of Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Barclays reduced their price target on shares of Elastic from $128.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. Citigroup raised their price objective on shares of Elastic from $145.00 to $155.00 and gave the company a “buy” rating in a report on Monday, June 3rd. UBS Group initiated coverage on shares of Elastic in a report on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on shares of Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and a consensus price target of $118.05.

Read Our Latest Stock Analysis on ESTC

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.

See Also

Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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