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

Elastic (NYSE:ESTC) insider Carolyn Herzog sold 3,334 shares of the company’s 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 directly owns 84,152 shares of the company’s stock, valued at $7,639,318.56. This trade represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Elastic Trading Up 1.6 %

Shares of Elastic stock traded up $1.52 during trading on Wednesday, hitting $98.61. The stock had a trading volume of 1,449,190 shares, compared to its average volume of 1,303,549. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $10.30 billion, a PE ratio of 179.30 and a beta of 1.20. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The stock has a 50 day simple moving average of $105.97 and a 200 day simple moving average of $95.07.

Elastic (NYSE:ESTC) last posted its quarterly earnings data 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). The firm had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, research analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Elastic

Hedge funds have recently bought and sold shares of the business. M&T Bank Corp lifted its position in shares of Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after purchasing an additional 139 shares in the last quarter. Sigma Planning Corp grew its position in Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock valued at $389,000 after purchasing an additional 139 shares in the last quarter. CIBC Asset Management Inc increased its stake in Elastic by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock valued at $302,000 after buying an additional 151 shares during the period. Smartleaf Asset Management LLC boosted 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 purchasing an additional 158 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in Elastic by 7.0% in the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after purchasing an additional 201 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on ESTC shares. JPMorgan Chase & Co. upped their price objective on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Royal Bank of Canada boosted their target price on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. The Goldman Sachs Group lifted their price target on Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Piper Sandler increased their price objective on Elastic from $130.00 to $135.00 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 company. According to data from MarketBeat.com, the company presently 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.