Ashutosh Kulkarni Sells 18,735 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) 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 directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ashutosh Kulkarni also recently made the following trade(s):

• On Wednesday, December 18th, Ashutosh Kulkarni sold 7,017 shares of Elastic stock. The stock was sold at an average price of $108.12, for a total value of $758,678.04.

Elastic Stock Performance

NYSE:ESTC traded up $1.52 on Wednesday, hitting $98.61. The company’s stock had a trading volume of 1,449,190 shares, compared to its average volume of 1,303,549. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a one year low of $69.00 and a one year high of $123.96. The stock has a fifty day moving average of $105.97 and a two-hundred day moving average of $95.07. The firm has a market capitalization of $10.30 billion, a P/E ratio of 179.30 and a beta of 1.20.

Elastic (NYSE:ESTC) 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 business had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Research analysts predict that Elastic will post -0.77 earnings per share for the current year.

Institutional Trading of Elastic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp lifted its position in Elastic by 3.1% during the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after acquiring an additional 139 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after purchasing an additional 139 shares during the period. CIBC Asset Management Inc lifted its holdings in Elastic by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after purchasing an additional 151 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in 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 buying an additional 158 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Elastic by 7.0% in the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after acquiring an additional 201 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ESTC. Rosenblatt Securities restated a “buy” rating and set a $130.00 target price on shares of Elastic in a research report on Tuesday, February 25th. Piper Sandler upped their price objective on shares of Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Royal Bank of Canada lifted their target price on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Wedbush cut Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group raised their target price on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Seven research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.52.

Elastic Company 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.