Man Group plc Acquires 241,519 Shares of Elastic (NYSE:ESTC)

Man Group plc grew its holdings in Elastic (NYSE:ESTC - Free Report) by 9,100.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 244,173 shares of the company's stock after buying an additional 241,519 shares during the quarter. Man Group plc owned approximately 0.24% of Elastic worth $24,193,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nicholas Investment Partners LP bought a new position in shares of Elastic during the fourth quarter valued at approximately $5,048,000. No Street GP LP purchased a new position in Elastic during the 4th quarter valued at $33,687,000. Occudo Quantitative Strategies LP bought a new position in Elastic in the 4th quarter worth $300,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Elastic in the 4th quarter worth $495,000. Finally, Lazard Asset Management LLC lifted its position in shares of Elastic by 32.5% in the 4th quarter. Lazard Asset Management LLC now owns 23,198 shares of the company's stock worth $2,296,000 after purchasing an additional 5,694 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Insider Activity

In other Elastic news, CTO Shay Banon sold 140,129 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the sale, the chief technology officer now directly owns 2,254,978 shares of the company's stock, valued at approximately $240,561,053.04. This represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the transaction, the chief executive officer now owns 376,591 shares in the company, valued at $34,183,165.07. This represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock valued at $20,847,452 in the last 90 days. 15.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. DA Davidson reduced their price target on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Truist Financial cut their price objective on Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. UBS Group increased their target price on Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Scotiabank lowered their target price on Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 27th. Finally, Rosenblatt Securities restated a "buy" rating and set a $130.00 price target on shares of Elastic in a research report on Tuesday, February 25th. Seven 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $127.48.

Elastic Stock Performance

ESTC stock opened at $92.22 on Friday. The stock's 50 day simple moving average is $86.66 and its 200 day simple moving average is $97.06. 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 stock has a market capitalization of $9.63 billion, a PE ratio of 167.67 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $382.08 million for the quarter, compared to analysts' expectations of $368.85 million. As a group, research analysts forecast that Elastic will post -0.77 earnings per share 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.

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