KBC Group NV Grows Position in Elastic (NYSE:ESTC)

KBC Group NV boosted its stake in Elastic (NYSE:ESTC) by 42.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,435 shares of the company’s stock after acquiring an additional 1,020 shares during the period. KBC Group NV’s holdings in Elastic were worth $340,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ESTC. Blueshift Asset Management LLC acquired a new stake in Elastic during the 3rd quarter valued at $585,000. Charles Schwab Investment Management Inc. raised its position in shares of Elastic by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after purchasing an additional 14,590 shares in the last quarter. Bangor Savings Bank acquired a new stake in Elastic during the fourth quarter valued at approximately $1,657,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Elastic during the 3rd quarter valued at about $1,262,000. Finally, Vestcor Inc acquired a new position in shares of Elastic during the third quarter valued at $1,919,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Trading Up 2.1 %

Shares of Elastic stock opened at $112.89 on Monday. The company has a market cap of $11.70 billion, a P/E ratio of 205.25 and a beta of 1.06. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The firm has a 50-day simple moving average of $104.83 and a two-hundred day simple moving average of $94.90. 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 Buying and Selling at Elastic

In other news, insider Carolyn Herzog sold 11,145 shares of the business’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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,162 shares of company stock worth $18,637,562. Corporate insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ESTC. Baird R W upgraded shares of Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Bank of America upped 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. Jefferies Financial Group upped their price objective on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $120.00 price objective on shares of Elastic in a report on Wednesday, November 20th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Elastic has a consensus rating of “Moderate Buy” and an average target price of $125.35.

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.