Russell Investments Group Ltd. Buys 12,917 Shares of Elastic (NYSE:ESTC)

Russell Investments Group Ltd. increased its position in shares of Elastic (NYSE:ESTC - Free Report) by 843.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ESTC. Stifel Financial Corp raised its stake in shares of Elastic by 10.7% in the 3rd quarter. Stifel Financial Corp now owns 19,564 shares of the company's stock valued at $1,502,000 after buying an additional 1,898 shares in the last quarter. Barclays PLC increased its stake in Elastic by 56.2% in the third 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 during the period. Virtu Financial LLC raised its position in Elastic by 131.9% in the third quarter. Virtu Financial LLC now owns 4,338 shares of the company's stock worth $333,000 after purchasing an additional 2,467 shares in the last quarter. Tidal Investments LLC lifted its stake in Elastic by 239.1% during the third quarter. Tidal Investments LLC now owns 9,807 shares of the company's stock worth $753,000 after purchasing an additional 6,915 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Elastic by 256.3% during the third quarter. Franklin Resources Inc. now owns 341,524 shares of the company's stock valued at $28,387,000 after purchasing an additional 245,680 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic Trading Up 1.4 %

NYSE ESTC traded up $1.10 during trading hours on Wednesday, hitting $77.49. The company's stock had a trading volume of 2,693,159 shares, compared to its average volume of 1,378,052. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The firm has a market capitalization of $8.09 billion, a P/E ratio of 140.89 and a beta of 1.19. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average of $93.55 and a 200 day moving average of $96.49.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Equities research analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ESTC shares. Guggenheim increased their target price on Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Jefferies Financial Group dropped their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, April 7th. DA Davidson reduced their target price on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Rosenblatt Securities reiterated a "buy" rating and set a $130.00 target price on shares of Elastic in a research report on Tuesday, February 25th. Finally, Morgan Stanley reduced their price target on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $127.48.

Insiders Place Their Bets

In related news, CRO Mark Eugene Dodds sold 2,755 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the sale, the executive now owns 96,484 shares of the company's stock, valued at approximately $8,757,852.68. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the transaction, the chief executive officer now owns 371,591 shares in the company, valued at approximately $38,140,100.24. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,304 shares of company stock worth $20,847,452. Insiders own 15.90% of the company's stock.

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.