Virginia Retirement Systems ET AL Buys 3,700 Shares of Elastic (NYSE:ESTC)

Virginia Retirement Systems ET AL increased its position in shares of Elastic (NYSE:ESTC) by 41.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,700 shares of the company’s stock after purchasing an additional 3,700 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Elastic were worth $1,412,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mawer Investment Management Ltd. acquired a new position in shares of Elastic during the 4th quarter worth $144,347,000. FMR LLC raised its stake in Elastic by 10.7% during the fourth quarter. FMR LLC now owns 9,543,976 shares of the company’s stock worth $1,394,661,000 after acquiring an additional 925,846 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Elastic by 142.7% in the fourth quarter. Morgan Stanley now owns 1,347,381 shares of the company’s stock worth $196,893,000 after acquiring an additional 792,117 shares during the last quarter. Norges Bank acquired a new stake in shares of Elastic in the 4th quarter valued at approximately $88,064,000. Finally, BlackRock Inc. grew its holdings in shares of Elastic by 8.4% during the 4th quarter. BlackRock Inc. now owns 5,080,324 shares of the company’s stock valued at $742,387,000 after purchasing an additional 395,480 shares during the last quarter. Hedge funds and other institutional investors own 70.50% of the company’s stock.

Shares of ESTC stock opened at $109.63 on Friday. The firm has a 50 day moving average of $118.14 and a 200-day moving average of $138.97. The company has a market cap of $9.84 billion, a price-to-earnings ratio of -73.09 and a beta of 1.16. Elastic has a 52 week low of $69.32 and a 52 week high of $176.49.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Wednesday, February 24th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.30. Elastic had a negative net margin of 24.21% and a negative return on equity of 22.51%. The business had revenue of $157.12 million during the quarter, compared to analysts’ expectations of $146.47 million. As a group, equities analysts expect that Elastic will post -1.13 EPS for the current year.

A number of brokerages have weighed in on ESTC. Citigroup raised their target price on shares of Elastic from $190.00 to $200.00 in a research report on Friday, February 26th. Royal Bank of Canada raised their price objective on Elastic from $175.00 to $183.00 in a report on Thursday, February 25th. Jefferies Financial Group upped their target price on Elastic from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, March 3rd. DA Davidson lifted their target price on shares of Elastic from $150.00 to $184.00 and gave the stock a “buy” rating in a research report on Wednesday, March 3rd. Finally, Barclays raised their price target on shares of Elastic from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, March 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $167.65.

In other news, Director Jonathan Chadwick sold 6,250 shares of Elastic stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $127.83, for a total transaction of $798,937.50. Following the completion of the transaction, the director now directly owns 10,029 shares in the company, valued at $1,282,007.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Janesh Moorjani sold 14,733 shares of the company’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $116.40, for a total transaction of $1,714,921.20. Following the completion of the sale, the chief financial officer now owns 51,843 shares in the company, valued at approximately $6,034,525.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,468 shares of company stock worth $16,874,165. 25.20% of the stock is owned by company insiders.

About Elastic

Elastic N.V., a search company, delivers technology that enables users to search through structured and unstructured data for a range of consumer and enterprise applications. It primarily 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.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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