Teacher Retirement System of Texas Buys 5,209 Shares of Elastic (NYSE:ESTC)

Teacher Retirement System of Texas raised its stake in shares of Elastic (NYSE:ESTC) by 57.2% in the 4th quarter, Holdings Channel reports. The firm owned 14,317 shares of the company’s stock after acquiring 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 institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Elastic in the fourth quarter valued at $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Elastic in the 4th quarter worth $25,000. Venturi Wealth Management LLC increased its holdings in shares of Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Elastic by 1,065.2% in the 4th 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. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 25,668 shares of the business’s stock in a transaction on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the transaction, the chief technology officer now directly owns 2,408,541 shares in the company, valued at $271,033,118.73. The trade was a 1.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the sale, the chief executive officer now owns 371,591 shares of the company’s stock, valued at approximately $38,140,100.24. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock valued at $20,847,452 over the last 90 days. Insiders own 15.90% of the company’s stock.

Elastic Trading Down 3.7 %

ESTC opened at $91.55 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 166.46 and a beta of 1.20. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The stock has a fifty day moving average price of $105.25 and a 200-day moving average price of $95.97.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $368.85 million. As a group, equities research analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ESTC. Piper Sandler boosted their price objective on Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. UBS Group boosted their price objective on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Robert W. Baird raised their target price on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company lifted their price target on shares of Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and an average target price of $131.39.

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.