Carolyn Herzog Sells 3,334 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) insider Carolyn Herzog sold 3,334 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 84,152 shares in the company, valued at approximately $7,639,318.56. This trade represents a 3.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Elastic Trading Up 1.6 %

Shares of Elastic stock traded up $1.52 during trading on Wednesday, reaching $98.61. 1,449,190 shares of the company were exchanged, compared to its average volume of 1,303,549. The business has a 50-day moving average price of $105.97 and a 200-day moving average price of $95.07. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 179.30 and a beta of 1.20. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96.

Elastic (NYSE:ESTC) last announced its quarterly 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 company had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Sell-side analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Elastic

Large investors have recently bought and sold shares of the company. Slow Capital Inc. acquired a new position in shares of Elastic in the 4th quarter valued at $5,039,000. Wealth Effects LLC lifted its holdings in Elastic by 25.4% during the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock worth $2,854,000 after acquiring an additional 5,830 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in Elastic in the third quarter valued at about $585,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after acquiring an additional 14,590 shares in the last quarter. Finally, Bangor Savings Bank acquired a new stake in shares of Elastic during the fourth quarter worth about $1,657,000. Institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $130.00 target price on shares of Elastic in a research report on Tuesday, February 25th. Truist Financial raised their price target on shares of Elastic from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Wedbush lowered shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Jefferies Financial Group increased their target price on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Piper Sandler boosted their price target on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.52.

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.