Teacher Retirement System of Texas Boosts Stock Holdings in Elastic N.V. (NYSE:ESTC)

Teacher Retirement System of Texas raised its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 26.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,130 shares of the company's stock after purchasing an additional 3,813 shares during the period. Teacher Retirement System of Texas' holdings in Elastic were worth $1,615,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Elastic in the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Elastic in the 4th quarter valued at $26,000. GAMMA Investing LLC boosted its stake in shares of Elastic by 134.6% in the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $51,000 after purchasing an additional 327 shares in the last quarter. Troluce Capital Advisors LLC bought a new stake in Elastic during the 4th quarter valued at $99,000. Finally, Jones Financial Companies Lllp raised its holdings in Elastic by 759.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,049 shares of the company's stock worth $104,000 after purchasing an additional 927 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 22,901 shares of the company's stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Also, insider Carolyn Herzog sold 5,702 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $495,560.82. Following the transaction, the insider owned 93,985 shares in the company, valued at $8,168,236.35. This trade represents a 5.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,913 shares of company stock worth $4,416,324 in the last quarter. 15.90% of the stock is currently owned by corporate insiders.

Elastic Stock Performance

Shares of Elastic stock opened at $84.30 on Friday. The company has a market capitalization of $8.90 billion, a PE ratio of -80.29 and a beta of 1.07. 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 company has a 50-day simple moving average of $86.41 and a two-hundred day simple moving average of $93.58. Elastic N.V. has a one year low of $69.00 and a one year high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The business had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The company's revenue was up 15.9% on a year-over-year basis. Research analysts expect that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

ESTC has been the subject of several research reports. Jefferies Financial Group decreased their price target on shares of Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Guggenheim lowered their price objective on shares of Elastic from $136.00 to $107.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. TD Securities reduced their price objective on shares of Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Morgan Stanley cut their target price on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Oppenheimer cut their target price on shares of Elastic from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $113.52.

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.

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