Russell Investments Group Ltd. Sells 4,293 Shares of Elastic (NYSE:ESTC)

Russell Investments Group Ltd. reduced its stake in shares of Elastic (NYSE:ESTCFree Report) by 73.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,577 shares of the company’s stock after selling 4,293 shares during the quarter. Russell Investments Group Ltd.’s holdings in Elastic were worth $178,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Elastic in the 3rd quarter valued at $221,000. M&T Bank Corp acquired a new position in Elastic during the 3rd quarter valued at about $230,000. Principal Financial Group Inc. boosted its stake in shares of Elastic by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 9,624 shares of the company’s stock valued at $782,000 after purchasing an additional 334 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Elastic by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,761 shares of the company’s stock worth $712,000 after buying an additional 490 shares during the period. Finally, Sigma Planning Corp bought a new stake in shares of Elastic during the third quarter worth approximately $292,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ESTC shares. TheStreet raised shares of Elastic from a “d+” rating to a “c-” rating in a report on Wednesday, February 7th. UBS Group initiated coverage on Elastic in a research note on Wednesday. They issued a “buy” rating and a $135.00 target price on the stock. Rosenblatt Securities upped their price target on Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, March 1st. The Goldman Sachs Group lifted their price objective on shares of Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, Oppenheimer upped their target price on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.45.

Read Our Latest Stock Report on ESTC

Elastic Stock Performance

Shares of ESTC stock opened at $106.02 on Friday. Elastic has a 12 month low of $57.38 and a 12 month high of $136.06. The company’s fifty day simple moving average is $102.49 and its 200-day simple moving average is $106.46. The firm has a market cap of $10.69 billion, a PE ratio of 230.48 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80.

Elastic (NYSE:ESTCGet Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. The company had revenue of $327.96 million during the quarter, compared to the consensus estimate of $320.48 million. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. Equities research analysts expect that Elastic will post -1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the transaction, the director now directly owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the transaction, the director now owns 8,382,000 shares in the company, valued at $817,580,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 1,322 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the completion of the sale, the chief technology officer now owns 4,518,714 shares in the company, valued at approximately $480,022,988.22. The disclosure for this sale can be found here. Insiders have sold 962,440 shares of company stock valued at $94,535,764 in the last 90 days. 18.10% of the stock is currently owned by insiders.

Elastic Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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