Teacher Retirement System of Texas cut its stake in Elastic (NYSE:ESTC – Get Rating) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,940 shares of the company's stock after selling 1,074 shares during the period. Teacher Retirement System of Texas' holdings in Elastic were worth $785,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its holdings in Elastic by 10.0% in the second quarter. Advisors Asset Management Inc. now owns 1,669 shares of the company's stock valued at $113,000 after acquiring an additional 152 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Elastic by 94.4% during the third quarter. Allworth Financial LP now owns 383 shares of the company's stock worth $27,000 after purchasing an additional 186 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Elastic by 79.8% during the second quarter. Quadrant Capital Group LLC now owns 446 shares of the company's stock worth $30,000 after purchasing an additional 198 shares during the period. Scotia Capital Inc. raised its holdings in shares of Elastic by 0.4% during the second quarter. Scotia Capital Inc. now owns 54,873 shares of the company's stock worth $3,713,000 after purchasing an additional 202 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Elastic by 2.3% during the third quarter. Xponance Inc. now owns 9,178 shares of the company's stock worth $658,000 after purchasing an additional 204 shares during the period. 78.40% of the stock is owned by institutional investors and hedge funds.
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Insider Activity
In other news, insider Carolyn Herzog sold 1,324 shares of the firm's stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $53.60, for a total transaction of $70,966.40. Following the completion of the transaction, the insider now owns 90,148 shares in the company, valued at approximately $4,831,932.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Carolyn Herzog sold 1,324 shares of the firm's stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $53.60, for a total transaction of $70,966.40. Following the completion of the transaction, the insider now owns 90,148 shares in the company, valued at approximately $4,831,932.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Shay Banon sold 2,026 shares of the firm's stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $53.60, for a total transaction of $108,593.60. Following the transaction, the chief technology officer now owns 8,245,848 shares of the company's stock, valued at approximately $441,977,452.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,944 shares of company stock worth $586,598. Corporate insiders own 18.80% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Wedbush assumed coverage on shares of Elastic in a report on Wednesday, December 14th. They set a "neutral" rating and a $67.00 target price on the stock. Truist Financial dropped their target price on shares of Elastic from $85.00 to $75.00 in a report on Monday, January 9th. Oppenheimer dropped their target price on shares of Elastic from $90.00 to $80.00 and set an "outperform" rating on the stock in a report on Tuesday, January 3rd. The Goldman Sachs Group lowered their price target on shares of Elastic from $83.00 to $64.00 and set a "neutral" rating for the company in a research report on Wednesday, January 25th. Finally, Robert W. Baird restated an "outperform" rating and set a $100.00 price target on shares of Elastic in a research report on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.50.
Elastic Stock Performance
Shares of ESTC opened at $61.30 on Friday. The firm has a 50-day moving average price of $54.29 and a 200 day moving average price of $66.68. The firm has a market capitalization of $5.86 billion, a PE ratio of -24.04 and a beta of 1.10. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.45. Elastic has a 52-week low of $46.18 and a 52-week high of $98.75.
Elastic (NYSE:ESTC – Get Rating) last announced its earnings results on Wednesday, November 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.60) by $0.10. The firm had revenue of $264.40 million during the quarter, compared to analyst estimates of $261.25 million. Elastic had a negative net margin of 24.46% and a negative return on equity of 53.77%. On average, sell-side analysts anticipate that Elastic will post -1.91 earnings per share for the current fiscal year.
About Elastic
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Elastic NV engages in the provision of open-source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured, Kibana, a user interface, management, and configuration interface for the Elastic Stack, Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash, and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.
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