Northwest & Ethical Investments L.P. Makes New $119,000 Investment in Elastic (NYSE:ESTC)

Northwest & Ethical Investments L.P. purchased a new stake in shares of Elastic (NYSE:ESTC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,200 shares of the company’s stock, valued at approximately $119,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Magnetar Financial LLC bought a new position in Elastic in the 4th quarter valued at $801,000. Teacher Retirement System of Texas lifted its stake in shares of Elastic by 57.2% during the fourth quarter. Teacher Retirement System of Texas now owns 14,317 shares of the company’s stock valued at $1,419,000 after acquiring an additional 5,209 shares during the period. Xponance Inc. boosted its holdings in Elastic by 11.5% in the fourth quarter. Xponance Inc. now owns 11,980 shares of the company’s stock valued at $1,187,000 after acquiring an additional 1,231 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Elastic by 187.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company’s stock worth $899,000 after purchasing an additional 5,919 shares during the period. Finally, Nicholas Company Inc. raised its holdings in Elastic by 3.9% during the 4th quarter. Nicholas Company Inc. now owns 227,624 shares of the company’s stock worth $22,553,000 after purchasing an additional 8,578 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ESTC shares. Robert W. Baird lifted their price target on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. UBS Group lifted their target price on shares of Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Scotiabank reiterated an “outperform” rating on shares of Elastic in a research report on Friday, February 28th. Canaccord Genuity Group raised their price target on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Citigroup upped their price objective on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.52.

Insider Activity

In related news, CTO Shay Banon sold 140,129 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the completion of the transaction, the chief technology officer now owns 2,254,978 shares of the company’s stock, valued at approximately $240,561,053.04. This trade represents a 5.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Mark Eugene Dodds sold 2,755 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the sale, the executive now directly owns 96,484 shares in the company, valued at $8,757,852.68. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 193,304 shares of company stock worth $20,334,252 over the last ninety days. Insiders own 15.90% of the company’s stock.

Elastic Trading Up 2.3 %

ESTC opened at $96.96 on Friday. The stock has a market capitalization of $10.12 billion, a P/E ratio of 176.29 and a beta of 1.20. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The firm’s fifty day simple moving average is $105.33 and its 200 day simple moving average is $95.22.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The firm had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. As a group, research analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

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.