Insider Selling: Elastic (NYSE:ESTC) Insider Sells 3,334 Shares of Stock

Elastic (NYSE:ESTC - Get Free Report) insider Carolyn Herzog sold 3,334 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $302,660.52. Following the sale, the insider now directly owns 84,152 shares of the company's stock, valued at approximately $7,639,318.56. This represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Elastic Trading Up 3.5 %

Shares of NYSE ESTC traded up $3.22 during midday trading on Friday, hitting $94.89. The stock had a trading volume of 492,967 shares, compared to its average volume of 1,305,831. The company's 50-day simple moving average is $105.80 and its 200 day simple moving average is $95.07. The firm has a market cap of $9.91 billion, a P/E ratio of 172.53 and a beta of 1.20. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC - Get Free Report) last released its 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Research analysts anticipate that Elastic will post -0.77 EPS for the current year.

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Wall Street Analysts Forecast Growth

ESTC has been the subject of several recent analyst reports. Oppenheimer increased their target price on Elastic from $125.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. Guggenheim raised their price objective on Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Citigroup raised their price objective on Elastic from $136.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Canaccord Genuity Group raised their price objective on Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group raised their price objective on Elastic from $110.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Elastic presently has a consensus rating of "Moderate Buy" and an average target price of $131.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Elastic by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock worth $926,607,000 after acquiring an additional 168,483 shares in the last quarter. FMR LLC lifted its holdings in Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company's stock worth $420,284,000 after acquiring an additional 1,115,750 shares in the last quarter. Sylebra Capital LLC lifted its holdings in Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after acquiring an additional 1,756,842 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after acquiring an additional 462,974 shares in the last quarter. Finally, Atreides Management LP lifted its holdings in shares of Elastic by 57.2% in 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 currently 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.