State of New Jersey Common Pension Fund D Raises Stock Position in Elastic (NYSE:ESTC)

State of New Jersey Common Pension Fund D lifted its position in shares of Elastic (NYSE:ESTC) by 4.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,282 shares of the company’s stock after buying an additional 2,357 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of Elastic worth $5,779,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sylebra Capital LLC bought a new position in shares of Elastic in the third quarter worth about $318,822,000. Alkeon Capital Management LLC grew its position in Elastic by 82.1% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,995,985 shares of the company’s stock worth $162,154,000 after purchasing an additional 900,000 shares during the period. FMR LLC grew its position in shares of Elastic by 4.7% during the 3rd quarter. FMR LLC now owns 9,051,434 shares of the company’s stock valued at $735,338,000 after acquiring an additional 409,717 shares during the period. Vanguard Group Inc. grew its position in shares of Elastic by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after acquiring an additional 380,694 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in Elastic by 2.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company’s stock worth $875,044,000 after buying an additional 211,896 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ashutosh Kulkarni sold 15,778 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $1,629,551.84. Following the sale, the chief executive officer now directly owns 364,235 shares of the company’s stock, valued at $37,618,190.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Ashutosh Kulkarni sold 15,778 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $1,629,551.84. Following the transaction, the chief executive officer now owns 364,235 shares in the company, valued at $37,618,190.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the transaction, the director now owns 8,382,000 shares in the company, valued at approximately $817,580,280. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 962,440 shares of company stock valued at $94,535,764. 18.10% of the stock is owned by insiders.

Elastic Price Performance

Elastic stock traded up $2.61 during trading hours on Friday, reaching $107.40. 1,066,830 shares of the stock were exchanged, compared to its average volume of 1,373,210. The stock has a 50 day moving average of $106.93 and a two-hundred day moving average of $102.42. Elastic has a twelve month low of $54.06 and a twelve month high of $136.06. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80. The company has a market cap of $10.83 billion, a P/E ratio of 233.35 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.01. The firm had revenue of $327.96 million during the quarter, compared to analyst estimates of $320.48 million. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. Equities analysts expect that Elastic will post -1.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on ESTC. Royal Bank of Canada lifted their price target on shares of Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities increased their price target on shares of Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Barclays reduced their price target on shares of Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. Scotiabank decreased their price target on shares of Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a report on Friday, March 1st. Finally, Truist Financial lifted their price target on shares of Elastic from $130.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and an average price target of $111.26.

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.