Arizona PSPRS Trust Buys Shares of 33,197 Elastic (NYSE:ESTC)

Arizona PSPRS Trust acquired a new stake in shares of Elastic (NYSE:ESTC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 33,197 shares of the company’s stock, valued at approximately $2,548,000. Elastic comprises about 0.1% of Arizona PSPRS Trust’s holdings, making the stock its 16th largest holding.

A number of other hedge funds have also bought and sold shares of ESTC. Cetera Advisors LLC bought a new stake in shares of Elastic during the 1st quarter valued at about $435,000. DekaBank Deutsche Girozentrale bought a new stake in Elastic during the first quarter valued at approximately $1,823,000. Lynx Investment Advisory purchased a new stake in Elastic during the second quarter valued at approximately $43,000. CWM LLC raised its position in Elastic by 16.5% in the second quarter. CWM LLC now owns 25,929 shares of the company’s stock worth $2,954,000 after acquiring an additional 3,671 shares during the period. Finally, Blue Zone Wealth Advisors LLC grew its position in shares of Elastic by 3.8% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 28,542 shares of the company’s stock valued at $3,251,000 after acquiring an additional 1,054 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ESTC shares. Citigroup boosted their price target on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Guggenheim lifted their target price on shares of Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Rosenblatt Securities restated a “buy” rating and set a $120.00 target price on shares of Elastic in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group boosted their price target on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus target price of $126.33.

Elastic Stock Performance

NYSE:ESTC opened at $109.46 on Monday. The company’s 50-day moving average is $85.26 and its two-hundred day moving average is $97.01. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.91. The firm has a market capitalization of $11.34 billion, a price-to-earnings ratio of 199.02 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the prior year, the business posted ($0.35) EPS. The company’s revenue was up 18.3% compared to the same quarter last year. Analysts forecast that Elastic will post -0.79 EPS for the current year.

Insider Transactions at Elastic

In other Elastic news, Director Paul R. Auvil III acquired 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the purchase, the director now owns 22,627 shares in the company, valued at $1,680,054.75. This trade represents a 761.32 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 19,649 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the sale, the chief executive officer now directly owns 432,648 shares in the company, valued at approximately $30,393,522. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,551 shares of company stock worth $20,506,656. 15.90% of the stock is currently owned by 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.