Marshall Wace LLP Purchases 543,155 Shares of Elastic (NYSE:ESTC)

Marshall Wace LLP raised its position in Elastic (NYSE:ESTC - Free Report) by 554.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 641,041 shares of the company's stock after buying an additional 543,155 shares during the period. Marshall Wace LLP owned about 0.62% of Elastic worth $63,514,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ESTC. Vanguard Group Inc. increased its position in shares of Elastic by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after acquiring an additional 168,483 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Elastic by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock valued at $339,820,000 after buying an additional 462,974 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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. Norges Bank purchased a new stake in Elastic during the fourth quarter worth approximately $102,485,000. Finally, Federated Hermes Inc. grew its position in shares of Elastic by 15.4% in the 4th quarter. Federated Hermes Inc. now owns 884,400 shares of the company's stock valued at $87,626,000 after buying an additional 118,294 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ESTC shares. Wells Fargo & Company boosted their target price on Elastic from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Jefferies Financial Group decreased their price target on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a report on Monday, April 7th. Canaccord Genuity Group raised their price objective on shares of Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and issued a $130.00 price target on shares of Elastic in a research note on Tuesday, February 25th. Finally, Robert W. Baird boosted their price objective on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Seven 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. Based on data from MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and an average price target of $127.48.

Elastic Stock Up 2.5 %

NYSE ESTC traded up $1.91 during trading hours on Wednesday, hitting $78.30. The company had a trading volume of 785,350 shares, compared to its average volume of 1,370,630. 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 has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 142.36 and a beta of 1.19. The firm's 50 day moving average is $93.55 and its 200 day moving average is $96.49.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). The firm had revenue of $382.08 million during 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%. Sell-side analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In other news, insider Carolyn Herzog sold 3,334 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $302,660.52. Following the completion of the sale, the insider now directly owns 84,152 shares of the company's stock, valued at $7,639,318.56. This represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 376,591 shares of the company's stock, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is owned by insiders.

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.