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

Legal & General Group Plc trimmed its stake in Elastic (NYSE:ESTC - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 210,863 shares of the company's stock after selling 32,906 shares during the quarter. Legal & General Group Plc owned approximately 0.20% of Elastic worth $20,892,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. lifted its stake in Elastic by 5.4% in the fourth quarter. Invesco Ltd. now owns 76,329 shares of the company's stock valued at $7,563,000 after purchasing an additional 3,887 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Elastic during the 4th quarter valued at $374,000. Federated Hermes Inc. grew its stake in shares of Elastic by 15.4% during the 4th quarter. Federated Hermes Inc. now owns 884,400 shares of the company's stock worth $87,626,000 after acquiring an additional 118,294 shares during the period. MIG Capital LLC purchased a new stake in Elastic in the 4th quarter worth about $15,839,000. Finally, Russell Investments Group Ltd. raised its stake in Elastic by 843.7% in the 4th quarter. Russell Investments Group Ltd. now owns 14,448 shares of the company's stock valued at $1,432,000 after acquiring an additional 12,917 shares during the period. 97.03% of the stock is owned by institutional investors.

Elastic Trading Up 0.5 %

Shares of NYSE ESTC traded up $0.36 during trading hours on Tuesday, hitting $79.78. The company's stock had a trading volume of 1,830,596 shares, compared to its average volume of 1,362,018. The business has a 50-day simple moving average of $97.43 and a 200-day simple moving average of $96.47. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 145.05 and a beta of 1.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96.

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Elastic (NYSE:ESTC - Get Free Report) last issued 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 negative return on equity of 13.20% and a net margin of 4.39%. The company had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. On average, analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price target on shares of Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Cantor Fitzgerald initiated coverage on Elastic in a research report on Friday, January 17th. They issued a "neutral" rating and a $108.00 price target for the company. Piper Sandler increased their price objective on Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Guggenheim upped their price target on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company boosted their price objective on shares of Elastic from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elastic currently has an average rating of "Moderate Buy" and an average price target of $128.35.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the transaction, the chief executive officer now owns 376,591 shares of the company's stock, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Mark Eugene Dodds sold 2,755 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $8,757,852.68. The trade was a 2.78 % 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 over the last ninety days. Company insiders own 15.90% of the company's stock.

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.