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

Elastic (NYSE:ESTC - Get Free Report) CEO Ashutosh Kulkarni sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the sale, the chief executive officer now owns 371,591 shares of the company's stock, valued at $38,140,100.24. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 Stock Down 3.7 %

Shares of ESTC stock traded down $3.51 on Friday, reaching $91.55. 1,068,902 shares of the company's stock traded hands, compared to its average volume of 1,321,540. The business's 50 day moving average price is $105.25 and its two-hundred day moving average price is $95.97. The company has a market capitalization of $9.56 billion, a P/E ratio of 166.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, equities analysts forecast that Elastic will post -0.77 earnings per share for the current year.

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Institutional Trading of Elastic

A number of institutional investors have recently bought and sold shares of ESTC. California State Teachers Retirement System lifted its holdings in shares of Elastic by 0.3% during the 4th quarter. California State Teachers Retirement System now owns 81,703 shares of the company's stock valued at $8,095,000 after buying an additional 247 shares during the last quarter. 111 Capital acquired a new stake in Elastic in the fourth quarter valued at approximately $500,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Elastic in the 4th quarter valued at $3,558,000. Jefferies Financial Group Inc. bought a new stake in Elastic in the fourth quarter worth $456,000. Finally, Infinitum Asset Management LLC bought a new position in shares of Elastic in the 4th quarter valued at approximately $6,936,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ESTC. Rosenblatt Securities reaffirmed a "buy" rating and set a $130.00 target price on shares of Elastic in a report on Tuesday, February 25th. Guggenheim upped their price objective on Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Robert W. Baird raised their target price on Elastic from $135.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Morgan Stanley upped their price target on shares of Elastic from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, Truist Financial lifted their price objective on shares of Elastic from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.39.

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.