Lbp Am Sa Has $31.47 Million Stake in Elastic N.V. $ESTC

Key Points

• Lbp Am Sa significantly increased its stake in Elastic N.V. by 105.6% during the 2nd quarter, now holding 373,156 shares valued at approximately $31.47 million.
• Corporate insiders have sold a total of 349,536 shares of Elastic stock amounting to about $30.87 million in the last three months, indicating changes in ownership dynamics.
• Multiple analysts have issued positive ratings for Elastic, with target prices ranging from $120.00 to $130.00, reflecting a generally optimistic outlook for the company's stock.

Lbp Am Sa raised its position in Elastic N.V. (NYSE:ESTC - Free Report) by 105.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 373,156 shares of the company's stock after purchasing an additional 191,663 shares during the quarter. Lbp Am Sa owned 0.35% of Elastic worth $31,468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Cloud Capital Management LLC acquired a new stake in shares of Elastic in the 1st quarter valued at about $25,000. Signaturefd LLC raised its stake in shares of Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares during the period. North Capital Inc. acquired a new stake in shares of Elastic in the 1st quarter valued at about $37,000. Smartleaf Asset Management LLC raised 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 valued at $40,000 after purchasing an additional 152 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Elastic by 134.6% in the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $51,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Insider Buying and Selling at Elastic

In related news, CTO Shay Banon sold 104,326 shares of Elastic stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.34, for a total transaction of $9,424,810.84. Following the completion of the transaction, the chief technology officer owned 4,363,780 shares in the company, valued at approximately $394,223,885.20. This trade represents a 2.33% 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 19,622 shares of Elastic stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $1,768,334.64. Following the transaction, the chief executive officer owned 457,314 shares of the company's stock, valued at $41,213,137.68. The trade was a 4.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 349,536 shares of company stock valued at $30,872,136 in the last three months. Corporate insiders own 12.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ESTC. Oppenheimer reissued an "outperform" rating on shares of Elastic in a research note on Friday, August 29th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Elastic in a research report on Friday, August 29th. Robert W. Baird lifted their target price on Elastic from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. UBS Group lifted their target price on Elastic from $95.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $130.00 target price on shares of Elastic in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $118.80.

Elastic Trading Down 3.0%

Elastic stock opened at $84.42 on Wednesday. Elastic N.V. has a 52 week low of $70.14 and a 52 week 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 market capitalization of $8.97 billion, a P/E ratio of -105.53 and a beta of 1.04. The stock has a 50-day simple moving average of $83.79 and a 200 day simple moving average of $85.20.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.