New York State Common Retirement Fund Buys 42,898 Shares of Elastic N.V. (NYSE:ESTC)

New York State Common Retirement Fund raised its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 24.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 215,605 shares of the company's stock after acquiring an additional 42,898 shares during the period. New York State Common Retirement Fund owned about 0.21% of Elastic worth $19,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Elastic during the 4th quarter valued at $26,000. Cloud Capital Management LLC bought a new position in Elastic during the 1st quarter worth $25,000. North Capital Inc. bought a new position in Elastic during the 1st quarter worth $37,000. GAMMA Investing LLC raised its position in Elastic by 134.6% during the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company's stock worth $51,000 after purchasing an additional 327 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Elastic in the 1st quarter worth about $77,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ESTC. TD Securities lowered their price target on shares of Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a report on Wednesday, May 21st. Cantor Fitzgerald cut their target price on shares of Elastic from $109.00 to $92.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Rosenblatt Securities cut their price target on shares of Elastic from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Piper Sandler cut their price target on shares of Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Finally, Jefferies Financial Group dropped their target price on shares of Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a report on Monday, April 7th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $113.52.

Elastic Price Performance

Shares of NYSE:ESTC traded up $0.49 on Friday, hitting $86.79. The stock had a trading volume of 1,027,598 shares, compared to its average volume of 1,551,071. Elastic N.V. has a twelve month low of $69.00 and a twelve month high of $118.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. The firm's 50 day moving average price is $86.51 and its 200-day moving average price is $92.98. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of -82.66 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. The business had revenue of $388.43 million during the quarter, compared to analysts' expectations of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 earnings per share. On average, equities research analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Insider Activity

In related news, CEO Ashutosh Kulkarni sold 22,901 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $1,990,325.91. Following the sale, the chief executive officer owned 454,841 shares in the company, valued at approximately $39,530,231.31. This represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 5,117 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the transaction, the chief technology officer owned 4,560,291 shares in the company, valued at $396,334,890.81. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,913 shares of company stock worth $4,416,324. 15.90% of the stock is currently owned by insiders.

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.