Elastic (NYSE:ESTC) Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC raised its holdings in Elastic (NYSE:ESTC) by 8.0% during the 4th quarter, Holdings Channel reports. The firm owned 8,956 shares of the company’s stock after purchasing an additional 661 shares during the quarter. New York Life Investment Management LLC’s holdings in Elastic were worth $1,009,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Xponance Inc. grew its holdings in shares of Elastic by 3.3% during the third quarter. Xponance Inc. now owns 11,116 shares of the company’s stock worth $903,000 after buying an additional 356 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Elastic during the 3rd quarter worth $221,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Elastic by 53.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,187 shares of the company’s stock valued at $2,940,000 after purchasing an additional 12,628 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Elastic by 10.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,373 shares of the company’s stock valued at $355,000 after purchasing an additional 418 shares during the last quarter. Finally, Y.D. More Investments Ltd purchased a new position in Elastic during the third quarter worth about $1,592,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

ESTC has been the topic of a number of recent analyst reports. TheStreet raised shares of Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Royal Bank of Canada raised 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. Scotiabank decreased their target price on Elastic from $185.00 to $154.00 and set a “sector outperform” rating for the company in a report on Friday, March 1st. Citigroup cut their price target on shares of Elastic from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, Stifel Nicolaus boosted their price objective on shares of Elastic from $99.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and a consensus target price of $111.26.

Elastic Stock Performance

Shares of ESTC opened at $107.00 on Wednesday. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 232.61 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $103.31 and its two-hundred day moving average is $104.13. Elastic has a 52-week low of $56.85 and a 52-week high of $136.06.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $320.48 million. Analysts forecast that Elastic will post -1.13 EPS for the current fiscal year.

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.