33,197 Shares in Elastic (NYSE:ESTC) Acquired by Arizona PSPRS Trust

Arizona PSPRS Trust acquired a new stake in Elastic (NYSE:ESTC) during the third quarter, HoldingsChannel.com reports. The fund acquired 33,197 shares of the company’s stock, valued at approximately $2,548,000. Elastic accounts for about 0.1% of Arizona PSPRS Trust’s holdings, making the stock its 16th biggest position.

Several other large investors have also recently bought and sold shares of the business. Cetera Advisors LLC acquired a new position in shares of Elastic during the 1st quarter worth about $435,000. DekaBank Deutsche Girozentrale acquired a new position in Elastic in the first quarter valued at approximately $1,823,000. Lynx Investment Advisory purchased a new position in Elastic in the second quarter valued at approximately $43,000. CWM LLC lifted its position in shares of Elastic by 16.5% during the 2nd quarter. CWM LLC now owns 25,929 shares of the company’s stock worth $2,954,000 after buying an additional 3,671 shares during the last quarter. Finally, Blue Zone Wealth Advisors LLC grew its position in shares of Elastic by 3.8% in the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 28,542 shares of the company’s stock valued at $3,251,000 after buying an additional 1,054 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ESTC shares. Canaccord Genuity Group upped their price objective on shares of Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Royal Bank of Canada lifted their price target on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Scotiabank raised their target price on shares of Elastic from $92.00 to $135.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Truist Financial boosted their price target on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Five 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $126.33.

Elastic Stock Performance

NYSE:ESTC opened at $109.46 on Monday. The firm’s fifty day simple moving average is $85.26 and its 200 day simple moving average is $97.01. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.70. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The firm has a market capitalization of $11.34 billion, a price-to-earnings ratio of 199.02 and a beta of 0.94.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. The business had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.35) earnings per share. As a group, equities research analysts expect that Elastic will post -0.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the transaction, the chief executive officer now directly owns 432,648 shares in the company, valued at $30,393,522. This represents a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the transaction, the insider now directly owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,551 shares of company stock worth $20,506,656 in the last quarter. 15.90% of the stock is owned by corporate insiders.

Elastic 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.