Man Group plc Has $24.19 Million Stock Position in Elastic (NYSE:ESTC)

Man Group plc increased its stake in shares of Elastic (NYSE:ESTC - Free Report) by 9,100.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,173 shares of the company's stock after acquiring 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.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ESTC. Barclays PLC lifted its stake in Elastic by 56.2% during the 3rd quarter. Barclays PLC now owns 153,155 shares of the company's stock valued at $11,757,000 after acquiring an additional 55,084 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in Elastic by 87.3% during the 4th 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 period. Oak Thistle LLC bought a new stake in shares of Elastic during the fourth quarter valued at about $357,000. Nisa Investment Advisors LLC boosted its stake in Elastic by 3,442.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company's stock valued at $1,439,000 after buying an additional 14,115 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Elastic in the fourth quarter worth approximately $7,293,000. 97.03% of the stock is owned by institutional investors.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 140,129 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the transaction, the chief technology officer now directly owns 2,254,978 shares in the company, valued at $240,561,053.04. This trade represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Mark Eugene Dodds sold 2,755 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were 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 directly owns 96,484 shares in the company, valued at approximately $8,757,852.68. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,304 shares of company stock valued at $20,847,452 in the last three months. 15.90% of the stock is currently owned by corporate insiders.

Elastic Stock Down 1.8%

Shares of Elastic stock traded down $1.74 on Wednesday, hitting $92.44. 713,971 shares of the company's stock traded hands, compared to its average volume of 1,446,164. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The firm's 50-day moving average is $86.48 and its 200 day moving average is $97.42. The stock has a market cap of $9.65 billion, a P/E ratio of 168.17 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last issued its 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 company had revenue of $382.08 million during 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%. Equities analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

ESTC has been the topic of a number of recent analyst reports. TD Securities cut their price target on shares of Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a report on Wednesday. Rosenblatt Securities restated a "buy" rating and set a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Guggenheim increased their price objective on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Truist Financial decreased their target price on shares of Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Robert W. Baird increased their price target on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.96.

Elastic 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.