Elastic (NYSE:ESTC) CEO Sells $1,700,575.95 in Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 18,735 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. This represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Ashutosh Kulkarni also recently made the following trade(s):

• On Wednesday, December 18th, Ashutosh Kulkarni sold 7,017 shares of Elastic stock. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04.

Elastic Trading Up 1.6 %

Shares of ESTC opened at $98.61 on Thursday. 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 50-day moving average of $105.97 and a 200 day moving average of $95.07. Elastic has a 1-year low of $69.00 and a 1-year 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) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.48). The company had revenue of $382.08 million for 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%. On average, research analysts expect that Elastic will post -0.77 EPS for the current year.

Institutional Investors Weigh In On Elastic

Institutional investors and hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in Elastic during the 4th quarter worth about $25,000. Geneos Wealth Management Inc. acquired a new position in shares of Elastic in the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Elastic in the fourth quarter worth about $26,000. Venturi Wealth Management LLC grew its holdings in Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ESTC. Robert W. Baird lifted their target price on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Wedbush cut Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Jefferies Financial Group upped their price target on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Canaccord Genuity Group lifted their price objective on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, UBS Group raised their price target on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 28th. Seven investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus 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.