By otakuyassine3@gmail.com 
Arizona State Retirement System grew its holdings in shares of Elastic (NYSE:ESTC – Free Report) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,345 shares of the company’s stock after acquiring an additional 450 shares during the period. Arizona State Retirement System’s holdings in Elastic were worth $2,511,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the fourth quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in shares of Elastic during the fourth quarter valued at $25,000. Venturi Wealth Management LLC raised its stake in shares of Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Piper Sandler lifted their target price on shares of Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Truist Financial lifted their target price on shares of Elastic from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Bank of America lifted their target price on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Seven equities 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.52.
Get Our Latest Stock Analysis on ESTC
Elastic Stock Down 4.2 %
Shares of NYSE ESTC opened at $91.04 on Tuesday. The stock has a market capitalization of $9.51 billion, a P/E ratio of 165.52 and a beta of 1.20. The company has a 50-day moving average price of $106.19 and a 200-day moving average price of $95.24. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. 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 (NYSE:ESTC – Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. On average, equities research analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were 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 in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 140,129 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the transaction, the chief technology officer now owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This trade represents a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,814 shares of company stock worth $18,596,060. 15.90% of the stock is owned by insiders.
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.
Further Reading
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