Elastic (NYSE:ESTC) CEO Sells $513,200.00 in Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the completion of the transaction, the chief executive officer now directly owns 371,591 shares in the company, valued at $38,140,100.24. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 10th, Ashutosh Kulkarni sold 18,735 shares of Elastic stock. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95.

Elastic Stock Down 3.0 %

Shares of ESTC traded down $3.08 during mid-day trading on Wednesday, reaching $99.34. The company’s stock had a trading volume of 696,434 shares, compared to its average volume of 1,296,071. The company’s 50 day moving average is $105.53 and its 200 day moving average is $95.81. The stock has a market cap of $10.37 billion, a PE ratio of 180.62 and a beta of 1.20. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). The company had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Equities analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ESTC has been the subject of several research reports. UBS Group lifted their target price on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company lifted their price objective on Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Robert W. Baird increased their target price on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Truist Financial raised their target price on Elastic from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Piper Sandler boosted their price target on shares of Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.52.

Institutional Investors Weigh In On Elastic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Elastic by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after purchasing an additional 14,590 shares in the last quarter. Penserra Capital Management LLC grew its stake in Elastic by 7.4% during the 3rd quarter. Penserra Capital Management LLC now owns 51,880 shares of the company’s stock worth $3,981,000 after buying an additional 3,561 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Elastic by 12.0% during the third quarter. The Manufacturers Life Insurance Company now owns 16,431 shares of the company’s stock worth $1,261,000 after buying an additional 1,757 shares during the period. FMR LLC lifted its stake in Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after buying an additional 1,115,750 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Elastic in the third quarter valued at approximately $1,786,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.