Washington Harbour Partners LP Sells 8,200 Shares of Elastic (NYSE:ESTC)

Washington Harbour Partners LP lowered its stake in Elastic (NYSE:ESTC) by 22.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,100 shares of the company’s stock after selling 8,200 shares during the period. Elastic comprises 4.0% of Washington Harbour Partners LP’s investment portfolio, making the stock its 9th biggest position. Washington Harbour Partners LP’s holdings in Elastic were worth $2,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp raised its position in Elastic by 2.3% in the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock valued at $110,323,000 after purchasing an additional 31,663 shares in the last quarter. Stifel Financial Corp raised its position in shares of Elastic by 10.7% during the 3rd quarter. Stifel Financial Corp now owns 19,564 shares of the company’s stock worth $1,502,000 after acquiring an additional 1,898 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Elastic by 25.7% during the 3rd quarter. Quantinno Capital Management LP now owns 15,066 shares of the company’s stock worth $1,156,000 after acquiring an additional 3,082 shares in the last quarter. Readystate Asset Management LP raised its position in shares of Elastic by 1,133.7% during the 3rd quarter. Readystate Asset Management LP now owns 43,180 shares of the company’s stock worth $3,314,000 after acquiring an additional 39,680 shares in the last quarter. Finally, Potrero Capital Research LLC acquired a new stake in shares of Elastic during the 3rd quarter worth about $7,292,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total value of $16,638,000.00. Following the completion of the transaction, the chief technology officer now directly owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 19,649 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the transaction, the chief executive officer now owns 432,648 shares of the company’s stock, valued at $30,393,522. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,551 shares of company stock valued at $20,506,656 over the last three months. 15.90% of the stock is currently owned by insiders.

Elastic Stock Down 4.0 %

ESTC opened at $111.52 on Friday. The business’s fifty day moving average is $88.12 and its two-hundred day moving average is $97.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market cap of $11.56 billion, a price-to-earnings ratio of 202.75 and a beta of 1.02. Elastic has a one year low of $69.00 and a one year high of $136.06.

Analyst Ratings Changes

Several brokerages have recently weighed in on ESTC. Bank of America raised their target price on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. DA Davidson lifted their price target on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Oppenheimer lifted their price target on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group lifted their price target on Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.33.

About Elastic

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.