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

Elastic (NYSE:ESTC) CRO Mark Eugene Dodds sold 2,755 shares of Elastic stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $250,071.35. Following the sale, the executive now owns 96,484 shares of the company’s stock, valued at $8,757,852.68. The trade was a 2.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Elastic Stock Up 3.6 %

Shares of ESTC stock opened at $95.00 on Friday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The firm has a market capitalization of $9.92 billion, a PE ratio of 172.73 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. The stock’s 50-day simple moving average is $105.80 and its 200-day simple moving average is $95.07.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Equities analysts expect that Elastic will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ESTC. Vanguard Group Inc. grew its position in Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company’s stock worth $926,607,000 after purchasing an additional 168,483 shares during the period. FMR LLC boosted its stake in shares of Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after buying an additional 1,115,750 shares during the last quarter. Sylebra Capital LLC grew 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 during the period. Pictet Asset Management Holding SA raised its position 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 valued at $339,820,000 after acquiring an additional 462,974 shares in the last quarter. Finally, Atreides Management LP lifted its holdings in 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 acquiring an additional 614,309 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

ESTC has been the subject of several research analyst reports. UBS Group lifted their price target on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their target price on Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. DA Davidson increased their price target on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada lifted their price objective on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Baird R W upgraded shares of Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Seven 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 company. According to MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

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.