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

New York Life Investment Management LLC cut its holdings in Elastic (NYSE:ESTC) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of Elastic by 10.7% during the fourth quarter. Amalgamated Bank now owns 6,031 shares of the company’s stock worth $598,000 after purchasing an additional 582 shares during the period. Bank of New York Mellon Corp raised its position in shares of Elastic by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 482,818 shares of the company’s stock worth $47,838,000 after purchasing an additional 3,772 shares during the period. Y Intercept Hong Kong Ltd raised its position in shares of Elastic by 432.2% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 15,887 shares of the company’s stock worth $1,574,000 after purchasing an additional 12,902 shares during the period. Valliance Asset Management Ltd acquired a new position in shares of Elastic during the fourth quarter worth approximately $423,000. Finally, Olympiad Research LP acquired a new position in shares of Elastic during the fourth quarter worth approximately $369,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ESTC. Robert W. Baird upped their target price on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday. DA Davidson upped their price target on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Scotiabank upped their price target on Elastic from $127.00 to $140.00 and gave the stock a “sector outperform” rating in a report on Friday. The Goldman Sachs Group upped their price target on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada upped their price target on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Seven research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.52.

Elastic Stock Down 8.0 %

ESTC stock opened at $107.03 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 194.60 and a beta of 1.07. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The stock has a fifty day moving average of $106.11 and a 200-day moving average of $95.45.

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

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. This represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.90% of the stock is owned by corporate insiders.

About Elastic

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.