California Public Employees Retirement System Has $14.85 Million Position in Elastic (NYSE:ESTC)

California Public Employees Retirement System boosted its position in Elastic (NYSE:ESTC) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,731 shares of the company’s stock after purchasing an additional 17,588 shares during the period. California Public Employees Retirement System owned 0.13% of Elastic worth $14,846,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ESTC. Sylebra Capital LLC acquired a new stake in shares of Elastic in the third quarter valued at about $318,822,000. Alkeon Capital Management LLC increased its stake in shares of 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 period. FMR LLC increased its stake in shares of 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 period. Vanguard Group Inc. increased its stake in shares of 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 period. Finally, Baillie Gifford & Co. increased its stake in shares of 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 period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Down 1.6 %

Shares of NYSE:ESTC opened at $102.24 on Wednesday. The business’s 50 day simple moving average is $105.94 and its two-hundred day simple moving average is $103.06. The firm has a market cap of $10.31 billion, a P/E ratio of 222.26 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 has a 52-week low of $54.06 and a 52-week high of $136.06.

Elastic (NYSE:ESTC) last announced its quarterly 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. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The business had revenue of $327.96 million for the quarter, compared to analyst estimates of $320.48 million. As a group, research analysts forecast that Elastic will post -1.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ESTC shares. Truist Financial increased 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. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Rosenblatt Securities increased 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. Scotiabank cut their target price on Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a research report on Friday, March 1st. Finally, Royal Bank of Canada upped their target price on Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Elastic has an average rating of “Moderate Buy” and an average price target of $111.26.

Insider Activity

In other news, CTO Shay Banon sold 1,322 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total value of $140,436.06. Following the transaction, the chief technology officer now owns 4,518,714 shares in the company, valued at $480,022,988.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Shay Banon sold 1,322 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total value of $140,436.06. Following the transaction, the chief technology officer now owns 4,518,714 shares in the company, valued at $480,022,988.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of 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 have sold 962,440 shares of company stock worth $94,535,764 over the last 90 days. 18.10% of the stock is currently owned by corporate insiders.

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.