Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni Sells 7,017 Shares of Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Elastic Trading Down 0.2 %

Shares of ESTC stock opened at $103.71 on Friday. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $93.37 and a 200-day moving average of $97.37. The firm has a market cap of $10.75 billion, a P/E ratio of 188.56 and a beta of 1.02.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Asset Dedication LLC grew its stake in Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares in the last quarter. AlphaCentric Advisors LLC purchased a new position in Elastic during the 2nd quarter valued at about $40,000. Quarry LP bought a new stake in shares of Elastic during the second quarter valued at about $40,000. Signaturefd LLC boosted its position in shares of Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after acquiring an additional 119 shares during the period. Finally, Eastern Bank bought a new stake in Elastic during the 3rd quarter worth approximately $61,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ESTC. UBS Group decreased their price objective on Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 30th. Truist Financial raised their price objective on Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Robert W. Baird raised Elastic from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $95.00 to $135.00 in a research note on Friday, November 22nd. Jefferies Financial Group increased their target price on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group boosted their price target on shares of Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Six 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. According to data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and a consensus price target of $126.50.

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.