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

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the sale, the chief executive officer now owns 371,591 shares in the company, valued at approximately $38,140,100.24. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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 Price Performance

NYSE ESTC opened at $91.55 on Friday. The company has a 50-day moving average price of $105.25 and a 200-day moving average price of $95.97. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. 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 firm has a market capitalization of $9.56 billion, a P/E ratio of 166.46 and a beta of 1.20.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The business had revenue of $382.08 million for 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 research analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ESTC. Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Guggenheim raised their price objective on Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Canaccord Genuity Group boosted their target price on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Morgan Stanley increased their target price on Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Scotiabank lowered their price target on Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.39.

Hedge Funds Weigh In On Elastic

Institutional investors have recently bought and sold shares of the stock. Sylebra Capital LLC increased its position in Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock worth $451,950,000 after buying an additional 1,756,842 shares in the last quarter. FMR LLC grew its stake in shares of Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after acquiring an additional 1,115,750 shares during the period. Norges Bank purchased a new stake in Elastic in the 4th quarter worth approximately $102,485,000. Arrowstreet Capital Limited Partnership raised its stake in Elastic by 5,972.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock worth $73,751,000 after acquiring an additional 732,100 shares during the period. Finally, Atreides Management LP lifted its holdings in Elastic by 57.2% during the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after purchasing an additional 614,309 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

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.