Teza Capital Management LLC Has $7.48 Million Stake in Elastic (NYSE:ESTC)

Teza Capital Management LLC grew its position in Elastic (NYSE:ESTC) by 425.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,456 shares of the company’s stock after acquiring an additional 61,097 shares during the period. Elastic comprises about 1.1% of Teza Capital Management LLC’s portfolio, making the stock its 8th largest holding. Teza Capital Management LLC owned 0.07% of Elastic worth $7,476,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ESTC. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the 4th quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Elastic during the 4th quarter worth about $25,000. Venturi Wealth Management LLC lifted its stake in shares of Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after buying an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock worth $53,000 after buying an additional 490 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ESTC shares. Rosenblatt Securities restated a “buy” rating and set a $130.00 target price on shares of Elastic in a research note on Tuesday, February 25th. Jefferies Financial Group dropped their price objective on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Piper Sandler lifted their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their price objective on shares of Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Robert W. Baird lifted their price objective on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.87.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the sale, the chief executive officer now directly owns 371,591 shares of the company’s stock, valued at $38,140,100.24. The trade was a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carolyn Herzog sold 3,334 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $302,660.52. Following the sale, the insider now directly owns 84,152 shares in the company, valued at $7,639,318.56. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock valued at $20,847,452 in the last ninety days. 15.90% of the stock is currently owned by insiders.

Elastic Price Performance

ESTC stock opened at $92.25 on Friday. The company has a 50 day simple moving average of $86.56 and a 200 day simple moving average of $97.25. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 167.73 and a beta of 1.20. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. 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 released its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The company had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. 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.