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

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 371,591 shares in the company, valued at $38,140,100.24. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Price Performance

ESTC stock opened at $94.96 on Friday. The business has a 50 day simple moving average of $105.43 and a 200-day simple moving average of $95.83. The firm has a market capitalization of $9.91 billion, a PE ratio of 172.65 and a beta of 1.20. 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 has a 1 year low of $69.00 and a 1 year high of $123.96.

Elastic (NYSE:ESTC) last posted 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 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 analysts’ expectations of $368.85 million. Equities research analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elastic

A number of institutional investors and hedge funds have recently modified their holdings of ESTC. Sylebra Capital LLC lifted its position in shares of Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock worth $451,950,000 after buying an additional 1,756,842 shares during the last quarter. FMR LLC boosted its stake in Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after purchasing an additional 1,115,750 shares during the period. Norges Bank purchased a new position in Elastic during the 4th quarter worth $102,485,000. Arrowstreet Capital Limited Partnership increased its stake in Elastic by 5,972.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock valued at $73,751,000 after purchasing an additional 732,100 shares during the period. Finally, Atreides Management LP raised 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 buying an additional 614,309 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ESTC. Piper Sandler lifted their price objective on shares of Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Cantor Fitzgerald assumed coverage on shares of Elastic in a research note on Friday, January 17th. They set a “neutral” rating and a $108.00 price target for the company. Wedbush lowered Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Scotiabank reduced their price objective on Elastic from $140.00 to $137.00 and set a “sector outperform” rating on the stock in a report on Thursday. Finally, Morgan Stanley upped their target price on Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.