Legal & General Group Plc Sells 32,906 Shares of Elastic (NYSE:ESTC)

Legal & General Group Plc decreased its holdings in Elastic (NYSE:ESTC - Free Report) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,863 shares of the company's stock after selling 32,906 shares during the period. Legal & General Group Plc owned about 0.20% of Elastic worth $20,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after purchasing an additional 168,483 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Elastic by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after buying an additional 462,974 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Elastic by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock worth $142,663,000 after buying an additional 45,076 shares during the last quarter. State Street Corp boosted its holdings in shares of Elastic by 2.3% during the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company's stock worth $110,323,000 after buying an additional 31,663 shares during the period. Finally, Norges Bank acquired a new position in Elastic in the 4th quarter valued at about $102,485,000. 97.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ESTC has been the subject of a number of research analyst reports. Canaccord Genuity Group boosted their price objective on Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Piper Sandler boosted their price target on Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. DA Davidson decreased their price objective on Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday. Guggenheim lifted their target price on Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Cantor Fitzgerald began coverage on shares of Elastic in a research note on Friday, January 17th. They issued a "neutral" rating and a $108.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $127.48.

Insider Transactions at Elastic

In other news, CRO Mark Eugene Dodds sold 2,755 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the sale, the executive now owns 96,484 shares of the company's stock, valued at approximately $8,757,852.68. This represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 directly owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This represents a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,304 shares of company stock worth $20,847,452. Insiders own 15.90% of the company's stock.

Elastic Price Performance

NYSE:ESTC traded down $1.00 on Friday, hitting $77.79. The company had a trading volume of 885,373 shares, compared to its average volume of 1,364,283. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 141.44 and a beta of 1.19. The firm has a 50 day moving average of $95.97 and a two-hundred day moving average of $96.35.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. On average, research analysts anticipate that Elastic will post -0.77 earnings per share for the current 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.