Strs Ohio Invests $640,000 in Elastic (NYSE:ESTC)

Strs Ohio bought a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,684 shares of the company’s stock, valued at approximately $640,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sylebra Capital LLC bought a new stake in Elastic in the third quarter valued at about $318,822,000. Alkeon Capital Management LLC increased its holdings in Elastic by 82.1% in the third quarter. Alkeon Capital Management LLC now owns 1,995,985 shares of the company’s stock valued at $162,154,000 after buying an additional 900,000 shares during the last quarter. FMR LLC increased its holdings in Elastic by 4.7% in the third quarter. FMR LLC now owns 9,051,434 shares of the company’s stock valued at $735,338,000 after buying an additional 409,717 shares during the last quarter. Vanguard Group Inc. increased its holdings in Elastic by 4.6% in the third quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after buying an additional 380,694 shares during the last quarter. Finally, Baillie Gifford & Co. increased its holdings in Elastic by 2.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company’s stock valued at $875,044,000 after buying an additional 211,896 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elastic

In other Elastic news, CFO Janesh Moorjani sold 5,515 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $569,589.20. Following the sale, the chief financial officer now directly owns 156,797 shares of the company’s stock, valued at approximately $16,193,994.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Carolyn Herzog sold 2,591 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $267,598.48. Following the transaction, the insider now directly owns 87,799 shares of the company’s stock, valued at $9,067,880.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Janesh Moorjani sold 5,515 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $569,589.20. Following the completion of the transaction, the chief financial officer now directly owns 156,797 shares in the company, valued at $16,193,994.16. The disclosure for this sale can be found here. Insiders have sold a total of 962,440 shares of company stock valued at $94,535,764 in the last three months. 18.10% of the stock is currently owned by company insiders.

Elastic Price Performance

Shares of NYSE:ESTC opened at $107.40 on Friday. Elastic has a one year low of $54.06 and a one year high of $136.06. The stock has a fifty day moving average of $106.93 and a 200-day moving average of $102.42. The company has a market capitalization of $10.83 billion, a PE ratio of 233.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87.

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

Wall Street Analysts Forecast Growth

ESTC has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on Elastic from $99.00 to $130.00 and gave the company a “buy” rating in a report on Friday, March 1st. Scotiabank decreased their price objective on Elastic from $185.00 to $154.00 and set a “sector outperform” rating for the company in a report on Friday, March 1st. The Goldman Sachs Group increased their price objective on Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Royal Bank of Canada increased their price objective on Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Finally, Rosenblatt Securities increased their price objective on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and an average target price of $111.26.

Elastic Company 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.