Insider Selling: Elastic (NYSE:ESTC) CEO Sells 19,649 Shares of Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 19,649 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the transaction, the chief executive officer now directly owns 432,648 shares of the company’s stock, valued at approximately $30,393,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, June 24th, Ashutosh Kulkarni sold 9,664 shares of Elastic stock. The stock was sold at an average price of $109.88, for a total value of $1,061,880.32.

Elastic Stock Up 1.4 %

Shares of NYSE:ESTC traded up $1.00 during trading on Tuesday, hitting $72.10. The stock had a trading volume of 1,286,644 shares, compared to its average volume of 1,348,552. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a market capitalization of $7.41 billion, a PE ratio of 136.04 and a beta of 0.95. The firm’s fifty day moving average is $104.14 and its 200 day moving average is $105.50.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The business had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. During the same quarter in the prior year, the company earned ($0.35) earnings per share. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. Analysts anticipate that Elastic will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Elastic

Several hedge funds have recently bought and sold shares of ESTC. Advisors Asset Management Inc. boosted its holdings in Elastic by 12.7% in the first quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock worth $106,000 after acquiring an additional 119 shares in the last quarter. Signaturefd LLC increased its holdings in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after buying an additional 119 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Elastic by 8.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,469 shares of the company’s stock worth $278,000 after buying an additional 185 shares during the last quarter. Headlands Technologies LLC lifted its stake in Elastic by 75.4% during the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after acquiring an additional 270 shares during the period. Finally, Asset Dedication LLC boosted its holdings in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Royal Bank of Canada dropped their price target on Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Stifel Nicolaus reduced their price objective on Elastic from $120.00 to $98.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Canaccord Genuity Group dropped their target price on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group decreased their price target on shares of Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.45.

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.