Investors Purchase Large Volume of Call Options on Elastic (NYSE:ESTC)

Elastic (NYSE:ESTC) saw unusually large options trading activity on Friday. Stock traders purchased 4,489 call options on the company. This represents an increase of 178% compared to the average volume of 1,613 call options.

Elastic Stock Performance

Shares of ESTC stock traded up $18.65 during mid-day trading on Friday, reaching $112.78. 3,119,653 shares of the company’s stock traded hands, compared to its average volume of 1,302,963. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The firm has a market capitalization of $11.59 billion, a PE ratio of 204.49 and a beta of 0.94. The firm has a 50 day moving average price of $80.71 and a two-hundred day moving average price of $97.05.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. The business had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.35) EPS. On average, research analysts forecast that Elastic will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Janesh Moorjani sold 6,941 shares of Elastic stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $487,605.25. Following the transaction, the chief financial officer now directly owns 195,550 shares of the company’s stock, valued at $13,737,387.50. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Carolyn Herzog sold 4,489 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the sale, the insider now owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. The trade was a 4.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,406 shares of company stock worth $2,627,772 in the last ninety days. 15.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Elastic

Several large investors have recently modified their holdings of ESTC. Asset Dedication LLC boosted its position in Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Elastic during the second quarter worth $40,000. Quarry LP purchased a new stake in Elastic during the 2nd quarter valued at about $40,000. Lynx Investment Advisory acquired a new stake in Elastic in the 2nd quarter valued at about $43,000. Finally, Signaturefd LLC lifted its stake in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ESTC has been the subject of several recent research reports. Scotiabank decreased their target price on shares of Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a research report on Friday, August 30th. JPMorgan Chase & Co. upped their price target on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday. Wedbush upgraded Elastic to a “hold” rating in a report on Thursday, October 17th. Guggenheim started coverage on Elastic in a research note on Wednesday, September 11th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Jefferies Financial Group lowered their price objective on shares of Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Elastic presently has an average rating of “Moderate Buy” and an average price target of $111.14.

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.