Planned Solutions Inc. Sells 1,075 Shares of Elastic (NYSE:ESTC)

by · The Cerbat Gem

Planned Solutions Inc. trimmed its holdings in shares of Elastic (NYSE:ESTC – Free Report) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 53,665 shares of the company’s stock after selling 1,075 shares during the quarter. Elastic accounts for approximately 2.1% of Planned Solutions Inc.’s portfolio, making the stock its 13th biggest holding. Planned Solutions Inc.’s holdings in Elastic were worth $5,317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. M&T Bank Corp grew its position in shares of Elastic by 3.1% during the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after acquiring an additional 139 shares during the period. QRG Capital Management Inc. grew its holdings in Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after purchasing an additional 201 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Elastic by 3.3% during the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after purchasing an additional 219 shares during the period. Y Intercept Hong Kong Ltd increased its position in Elastic by 12.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company’s stock worth $229,000 after buying an additional 332 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in shares of Elastic by 87.3% in the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after buying an additional 349 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by insiders.

Elastic Stock Performance

Shares of Elastic stock opened at $100.49 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The firm’s 50 day moving average is $101.86 and its two-hundred day moving average is $95.49. The firm has a market capitalization of $10.41 billion, a P/E ratio of 182.70 and a beta of 1.06.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ESTC. Morgan Stanley started coverage on shares of Elastic in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 price target for the company. Truist Financial upped their target price on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Cantor Fitzgerald started coverage on Elastic in a research note on Friday. They issued a “neutral” rating and a $108.00 price target for the company. Wells Fargo & Company boosted their price objective on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada increased their target price on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.70.

Check Out Our Latest Stock Analysis on Elastic

Elastic Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ESTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elastic (NYSE:ESTC – Free Report).