Teacher Retirement System of Texas Acquires 3,813 Shares of Elastic N.V. (NYSE:ESTC)

Teacher Retirement System of Texas increased its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 26.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,130 shares of the company's stock after buying an additional 3,813 shares during the quarter. Teacher Retirement System of Texas' holdings in Elastic were worth $1,615,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Elastic during the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Elastic in the fourth quarter valued at approximately $26,000. GAMMA Investing LLC lifted its position in shares of Elastic by 134.6% in the first quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $51,000 after buying an additional 327 shares during the last quarter. Troluce Capital Advisors LLC acquired a new stake in shares of Elastic in the fourth quarter valued at approximately $99,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Elastic by 759.8% in the fourth quarter. Jones Financial Companies Lllp now owns 1,049 shares of the company's stock valued at $104,000 after buying an additional 927 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ESTC shares. Wedbush cut their price objective on Elastic from $135.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Rosenblatt Securities dropped their price target on Elastic from $140.00 to $130.00 and set a "buy" rating for the company in a report on Friday, May 30th. Oppenheimer dropped their price target on Elastic from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. dropped their price target on Elastic from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.52.

Insider Activity

In other news, insider Carolyn Herzog sold 5,702 shares of Elastic stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Shay Banon sold 5,117 shares of Elastic stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction 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. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,913 shares of company stock valued at $4,416,324. 15.90% of the stock is currently owned by insiders.

Elastic Stock Performance

Shares of NYSE ESTC traded down $1.09 during midday trading on Tuesday, hitting $84.16. The company's stock had a trading volume of 1,413,027 shares, compared to its average volume of 1,544,433. Elastic N.V. has a one year low of $69.00 and a one year high of $123.96. The stock has a fifty day moving average price of $86.41 and a 200 day moving average price of $93.43. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of -80.15 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating 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 analysts' expectations of $380.61 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The firm's revenue was up 15.9% on a year-over-year basis. On average, research analysts forecast that Elastic N.V. will post -0.77 EPS for the current fiscal year.

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.