Elastic (NYSE:ESTC) CRO Sells $250,071.35 in Stock

Elastic (NYSE:ESTC - Get Free Report) CRO Mark Eugene Dodds sold 2,755 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the sale, the executive now directly owns 96,484 shares of the company's stock, valued at $8,757,852.68. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Elastic Price Performance

ESTC traded up $3.22 during trading on Friday, hitting $94.89. 492,967 shares of the company traded hands, compared to its average volume of 1,305,831. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The company has a market cap of $9.91 billion, a PE ratio of 172.53 and a beta of 1.20. The stock's 50-day simple moving average is $105.80 and its two-hundred day simple moving average is $95.07. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $382.08 million for the quarter, compared to analysts' expectations of $368.85 million. As a group, sell-side analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

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Wall Street Analyst Weigh In

A number of brokerages have weighed in on ESTC. UBS Group upped their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Piper Sandler increased their price target on shares of Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Barclays increased their price target on shares of Elastic from $105.00 to $138.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Cantor Fitzgerald assumed coverage on shares of Elastic in a report on Friday, January 17th. They set a "neutral" rating and a $108.00 price target on the stock. Finally, Robert W. Baird increased their price objective on shares of Elastic from $135.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.52.

Institutional Investors Weigh In On Elastic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Elastic during the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC purchased a new position in Elastic in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC lifted its stake in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after buying an additional 238 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after buying an additional 158 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

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.