Elastic (NYSE:ESTC) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System grew its stake in shares of Elastic (NYSE:ESTC) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,987 shares of the company’s stock after purchasing an additional 713 shares during the quarter. Arizona State Retirement System’s holdings in Elastic were worth $2,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. AlphaCentric Advisors LLC purchased a new position in shares of Elastic during the 2nd quarter valued at approximately $40,000. Lynx Investment Advisory acquired a new stake in shares of Elastic in the 2nd quarter worth approximately $43,000. Signaturefd LLC lifted its position in Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Elastic in the first quarter valued at $64,000. Finally, Advisors Asset Management Inc. lifted its holdings in Elastic by 12.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock valued at $106,000 after acquiring an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ESTC shares. Piper Sandler reduced their price objective on Elastic from $131.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Rosenblatt Securities restated a “buy” rating and issued a $136.00 target price on shares of Elastic in a research note on Tuesday, August 27th. DA Davidson decreased their target price on shares of Elastic from $100.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Barclays lowered their price objective on Elastic from $117.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research note on Friday, August 30th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.45.

Insider Transactions at Elastic

In other Elastic news, Director Paul R. Auvil III purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the acquisition, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Shay Banon sold 180,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $107.82, for a total value of $19,407,600.00. Following the completion of the sale, the chief technology officer now owns 2,874,978 shares of the company’s stock, valued at $309,980,127.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul R. Auvil III acquired 20,000 shares of Elastic stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the acquisition, the director now owns 22,627 shares in the company, valued at approximately $1,680,054.75. The disclosure for this purchase can be found here. Insiders have sold 309,664 shares of company stock valued at $33,607,080 in the last three months. 18.10% of the stock is owned by corporate insiders.

Elastic Trading Up 1.4 %

ESTC stock opened at $71.10 on Tuesday. The firm has a market cap of $7.31 billion, a P/E ratio of 134.15 and a beta of 0.95. The business’s 50 day moving average is $104.99 and its 200-day moving average is $105.91. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The business had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.35) EPS. Equities analysts anticipate that Elastic will post -0.94 earnings per share 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.