Elastic (NYSE:ESTC) Stock Position Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 843.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,448 shares of the company's stock after buying an additional 12,917 shares during the quarter. Russell Investments Group Ltd.'s holdings in Elastic were worth $1,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new position in shares of Elastic during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new position in Elastic during the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC raised its stake in Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after purchasing an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock valued at $53,000 after buying an additional 490 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ESTC shares. Piper Sandler lifted their target price on Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Jefferies Financial Group reduced their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Morgan Stanley dropped their target price on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. 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. Finally, Guggenheim increased their price objective on shares of Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Seven 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.48.

Insider Buying and Selling

In related news, CTO Shay Banon sold 25,668 shares of the firm's stock in a transaction that occurred on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the sale, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at approximately $271,033,118.73. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock worth $20,847,452 over the last ninety days. 15.90% of the stock is owned by insiders.

Elastic Stock Up 1.2 %

Shares of ESTC traded up $0.98 during midday trading on Friday, hitting $83.10. The company had a trading volume of 274,841 shares, compared to its average volume of 1,376,397. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 151.04 and a beta of 1.19. The company's 50 day moving average price is $92.21 and its 200 day moving average price is $96.39. 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.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (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 firm had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. On average, equities research analysts predict that Elastic will post -0.77 EPS for the current year.

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.