Elastic N.V. $ESTC Shares Bought by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly increased its stake in Elastic N.V. by 542.8%, acquiring an additional 9,206 shares during the first quarter, bringing its total holdings to 10,902 shares valued at approximately $971,000.
• Institutional investors collectively own 97.03% of Elastic's stock, with several firms increasing their positions, reflecting strong institutional confidence in the company's future.
• Analysts have mixed views on Elastic's stock, with price targets ranging from $110.00 to $150.00, and an average rating of "Moderate Buy" from analysts.

Bayforest Capital Ltd boosted its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 542.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,902 shares of the company's stock after buying an additional 9,206 shares during the period. Bayforest Capital Ltd's holdings in Elastic were worth $971,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ESTC. Mercer Global Advisors Inc. ADV purchased a new stake in Elastic in the 4th quarter worth $469,000. Ameriprise Financial Inc. increased its stake in Elastic by 81.0% in the 4th quarter. Ameriprise Financial Inc. now owns 30,088 shares of the company's stock worth $2,981,000 after buying an additional 13,466 shares in the last quarter. Bank of America Corp DE increased its stake in Elastic by 22.0% in the 4th quarter. Bank of America Corp DE now owns 413,901 shares of the company's stock worth $41,009,000 after buying an additional 74,732 shares in the last quarter. Cetera Investment Advisers increased its stake in Elastic by 13.3% in the 4th quarter. Cetera Investment Advisers now owns 7,203 shares of the company's stock worth $714,000 after buying an additional 843 shares in the last quarter. Finally, Graham Capital Management L.P. increased its stake in Elastic by 435.2% in the 4th quarter. Graham Capital Management L.P. now owns 17,955 shares of the company's stock worth $1,779,000 after buying an additional 14,600 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insider Buying and Selling at Elastic

In other news, CAO Jane E. Bone sold 629 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 transaction of $56,685.48. Following the completion of the sale, the chief accounting officer directly owned 38,786 shares in the company, valued at approximately $3,495,394.32. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 5,143 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 transaction of $463,487.16. Following the sale, the insider owned 94,677 shares of the company's stock, valued at $8,532,291.24. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 347,036 shares of company stock valued at $30,640,286. Company insiders own 12.70% of the company's stock.

Elastic Stock Down 1.6%

ESTC traded down $1.45 during trading on Friday, hitting $87.61. The stock had a trading volume of 2,100,983 shares, compared to its average volume of 2,427,491. The company has a market capitalization of $9.31 billion, a PE ratio of -109.51 and a beta of 1.04. Elastic N.V. has a twelve month low of $70.14 and a twelve month high of $118.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a 50 day simple moving average of $83.49 and a two-hundred day simple moving average of $86.34.

Analyst Ratings Changes

ESTC has been the subject of several research reports. Monness Crespi & Hardt increased their price objective on shares of Elastic from $111.00 to $150.00 and gave the company a "buy" rating in a report on Friday, August 29th. TD Securities lowered their price target on shares of Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. UBS Group increased their price target on shares of Elastic from $95.00 to $125.00 and gave the company a "buy" rating in a report on Friday, August 29th. Oppenheimer reissued an "outperform" rating on shares of Elastic in a research note on Friday, August 29th. Finally, Morgan Stanley raised their price objective on shares of Elastic from $115.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

Elastic Company 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.