Teacher Retirement System of Texas Boosts Stock Position in Elastic (NYSE:ESTC)

Teacher Retirement System of Texas boosted its holdings in shares of Elastic (NYSE:ESTC) by 57.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,317 shares of the company’s stock after purchasing an additional 5,209 shares during the period. Teacher Retirement System of Texas’ holdings in Elastic were worth $1,419,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC lifted its position in shares of Elastic by 25.6% in the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after purchasing an additional 1,115,750 shares during the period. Atreides Management LP lifted its holdings in Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after buying an additional 614,309 shares during the period. JAT Capital Mgmt LP boosted its position in Elastic by 601.4% during the 3rd quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after acquiring an additional 399,175 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Elastic by 256.3% during the 3rd quarter. Franklin Resources Inc. now owns 341,524 shares of the company’s stock worth $28,387,000 after acquiring an additional 245,680 shares during the period. Finally, Scopia Capital Management LP bought a new position in shares of Elastic in the 3rd quarter worth approximately $18,520,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ESTC. Cantor Fitzgerald initiated coverage on Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 price target on the stock. Canaccord Genuity Group upped their target price on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Wells Fargo & Company lifted their price target on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price objective on shares of Elastic in a report on Tuesday, February 25th. Finally, UBS Group lifted their target price on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.39.

Insiders Place Their Bets

In related news, CRO Mark Eugene Dodds sold 2,755 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the sale, the executive now directly owns 96,484 shares of the company’s stock, valued at approximately $8,757,852.68. This represents a 2.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the transaction, the chief executive officer now directly owns 371,591 shares in the company, valued at $38,140,100.24. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,304 shares of company stock worth $20,847,452. Company insiders own 15.90% of the company’s stock.

Elastic Stock Performance

Shares of ESTC opened at $91.55 on Friday. The firm has a market capitalization of $9.56 billion, a P/E ratio of 166.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a one year low of $69.00 and a one year high of $123.96. The business has a fifty day moving average of $105.25 and a 200 day moving average of $95.97.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). The business had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. As a group, sell-side analysts anticipate that Elastic will post -0.77 EPS for the current year.

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.