State of New Jersey Common Pension Fund D Purchases 2,357 Shares of Elastic (NYSE:ESTC)

State of New Jersey Common Pension Fund D boosted its stake in Elastic (NYSE:ESTC) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,282 shares of the company’s stock after purchasing an additional 2,357 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Elastic were worth $5,779,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CWM LLC increased its position in shares of Elastic by 9.8% during the third quarter. CWM LLC now owns 4,648 shares of the company’s stock valued at $378,000 after buying an additional 415 shares during the period. SG Americas Securities LLC lifted its position in Elastic by 38.0% in the third quarter. SG Americas Securities LLC now owns 8,222 shares of the company’s stock valued at $668,000 after purchasing an additional 2,266 shares during the last quarter. Xponance Inc. raised 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 valued at $903,000 after acquiring an additional 356 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Elastic in the third quarter worth $221,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Elastic by 53.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,187 shares of the company’s stock worth $2,940,000 after purchasing an additional 12,628 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Price Performance

Shares of Elastic stock traded up $2.61 during midday trading on Friday, hitting $107.40. 1,066,830 shares of the company traded hands, compared to its average volume of 1,373,210. The firm’s fifty day moving average price is $106.93 and its 200-day moving average price is $102.42. 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 has a 12 month low of $54.06 and a 12 month high of $136.06. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 233.35 and a beta of 0.94.

Elastic (NYSE:ESTC) last posted its 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%. As a group, sell-side analysts forecast that Elastic will post -1.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup dropped their target price on Elastic from $165.00 to $155.00 and set a “buy” rating for the company in a report on Monday, March 4th. Rosenblatt Securities boosted their price target on Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Truist Financial boosted their price target on Elastic from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Barclays lowered their target price on Elastic from $130.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Finally, Scotiabank reduced their price target on Elastic from $185.00 to $154.00 and set a “sector outperform” rating for the company in a report on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Elastic presently has an average rating of “Moderate Buy” and an average target price of $111.26.

Insiders Place Their Bets

In related news, Director Steven Schuurman sold 815,000 shares of the firm’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 sale, the director now directly owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Carolyn Herzog sold 2,591 shares of the company’s stock in a transaction dated 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 owns 87,799 shares in the company, valued at approximately $9,067,880.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction 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 owns 8,382,000 shares in the company, valued at approximately $817,580,280. The disclosure for this sale can be found here. Insiders sold 962,440 shares of company stock worth $94,535,764 over the last quarter. 18.10% of the stock is currently owned by company 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.