Bayforest Capital Ltd Has $971,000 Stock Holdings in Elastic N.V. $ESTC

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 grew its position in Elastic N.V. (NYSE:ESTC - Free Report) by 542.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,902 shares of the company's stock after purchasing 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.

Other institutional investors also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in shares of Elastic in the 1st quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Elastic in the 4th quarter worth approximately $26,000. Signaturefd LLC lifted its stake in shares of Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after acquiring an additional 117 shares during the period. North Capital Inc. acquired a new stake in shares of Elastic in the 1st quarter worth approximately $37,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Elastic by 53.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company's stock worth $40,000 after acquiring an additional 152 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Elastic in a research note on Friday, August 29th. Monness Crespi & Hardt increased their target price on shares of Elastic from $111.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, August 29th. TD Securities cut their target price on shares of Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Finally, DA Davidson began coverage on shares of Elastic in a research note on Friday, August 29th. They set a "neutral" rating and a $105.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $120.00.

Elastic Trading Down 1.6%

Shares of ESTC stock traded down $1.45 during trading hours on Friday, reaching $87.61. 2,100,983 shares of the stock traded hands, compared to its average volume of 1,760,499. Elastic N.V. has a 1-year low of $70.14 and a 1-year high of $118.84. The business has a fifty day moving average price of $83.48 and a 200 day moving average price of $86.56. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $9.31 billion, a PE ratio of -109.51 and a beta of 1.04.

Insider Transactions at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 5,037 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $453,934.44. Following the transaction, the executive owned 167,284 shares in the company, valued at approximately $15,075,634.08. This represents a 2.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn Herzog sold 5,143 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $463,487.16. Following the completion of the transaction, the insider owned 94,677 shares in the company, valued at approximately $8,532,291.24. This represents a 5.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 347,036 shares of company stock worth $30,640,286. 12.70% of the stock is owned by company insiders.

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.