New York Life Investment Management LLC Has $899,000 Holdings in Elastic (NYSE:ESTC)

New York Life Investment Management LLC lessened its stake in Elastic (NYSE:ESTC) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,077 shares of the company’s stock after selling 694 shares during the quarter. New York Life Investment Management LLC’s holdings in Elastic were worth $899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in Elastic in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC raised its stake in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. Global Retirement Partners LLC grew its position in Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. FNY Investment Advisers LLC grew its position in Elastic by 87.3% in the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock valued at $74,000 after acquiring an additional 349 shares during the last quarter. Finally, Stephens Consulting LLC bought a new position in Elastic in the fourth quarter valued at about $198,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.90% of the stock is currently owned by company insiders.

Elastic Stock Performance

Shares of ESTC stock opened at $107.03 on Tuesday. The business’s 50 day simple moving average is $106.11 and its 200 day simple moving average is $95.45. Elastic has a one year low of $69.00 and a one year high of $123.96. The stock has a market capitalization of $11.09 billion, a PE ratio of 194.60 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

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

Analyst Ratings Changes

ESTC has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus lifted their target price on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. DA Davidson lifted their target price on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Elastic in a research report on Tuesday, February 25th. Seven equities 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.52.

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.