Investors Purchase High Volume of Elastic Put Options (NYSE:ESTC)
Elastic NV (NYSE:ESTC) was the target of unusually large options trading on Thursday. Traders bought 6,883 put options on the company. This is an increase of approximately 1,638% compared to the typical volume of 396 put options.
ESTC has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on Elastic from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Bank of America lifted their price objective on Elastic from $135.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Jefferies Financial Group reduced their price objective on Elastic from $90.00 to $85.00 and set a “hold” rating for the company in a research report on Thursday. They noted that the move was a valuation call. Piper Jaffray Companies began coverage on Elastic in a report on Monday, October 28th. They issued an “overweight” rating and a $93.00 target price on the stock. Finally, Barclays reissued a “buy” rating and issued a $97.00 target price (down previously from $105.00) on shares of Elastic in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Elastic has an average rating of “Buy” and an average price target of $99.86.
Shares of ESTC stock opened at $64.22 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.06 and a quick ratio of 2.06. Elastic has a one year low of $60.78 and a one year high of $104.10. The company’s fifty day moving average price is $74.99 and its 200-day moving average price is $82.96. The company has a market capitalization of $6.20 billion and a price-to-earnings ratio of -35.68.
In related news, CEO Shay Banon sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $76.07, for a total transaction of $760,700.00. Following the transaction, the chief executive officer now owns 8,443,358 shares in the company, valued at $642,286,243.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin Kluge sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $76.07, for a total transaction of $1,901,750.00. Following the completion of the sale, the senior vice president now owns 503,993 shares in the company, valued at approximately $38,338,747.51. The disclosure for this sale can be found here. In the last three months, insiders sold 503,189 shares of company stock valued at $44,877,269. Corporate insiders own 44.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Elastic in the first quarter valued at $13,435,000. Strs Ohio grew its stake in shares of Elastic by 700.0% in the 2nd quarter. Strs Ohio now owns 84,995 shares of the company’s stock worth $6,345,000 after buying an additional 74,371 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Elastic in the 2nd quarter worth $581,000. BP PLC purchased a new position in shares of Elastic in the 2nd quarter worth $1,002,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Elastic in the 2nd quarter worth about $82,000. 64.80% of the stock is owned by institutional investors.
Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.
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