Ashutosh Kulkarni Sells 9,664 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 9,664 shares of Elastic stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.88, for a total value of $1,061,880.32. Following the sale, the chief executive officer now owns 452,297 shares in the company, valued at $49,698,394.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, June 10th, Ashutosh Kulkarni sold 18,819 shares of Elastic stock. The shares were sold at an average price of $109.90, for a total value of $2,068,208.10.

Elastic Price Performance

NYSE:ESTC opened at $114.77 on Friday. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 216.55 and a beta of 0.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a fifty day moving average of $107.08 and a 200 day moving average of $110.48. Elastic has a 52-week low of $57.38 and a 52-week high of $136.06.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The business had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $329.15 million. Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. On average, research analysts expect that Elastic will post -1.12 EPS for the current fiscal year.

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its position in Elastic by 30.8% in the first quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock worth $1,018,110,000 after acquiring an additional 2,392,356 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Elastic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock valued at $863,440,000 after purchasing an additional 44,597 shares during the last quarter. Sylebra Capital LLC purchased a new position in shares of Elastic during the 3rd quarter valued at about $318,822,000. JPMorgan Chase & Co. lifted its position in Elastic by 5.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,969,585 shares of the company’s stock worth $241,249,000 after buying an additional 155,612 shares during the last quarter. Finally, Alkeon Capital Management LLC boosted its stake in Elastic by 82.1% in the third quarter. Alkeon Capital Management LLC now owns 1,995,985 shares of the company’s stock worth $162,154,000 after buying an additional 900,000 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ESTC shares. Barclays reduced their price target on shares of Elastic from $128.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. JPMorgan Chase & Co. decreased their price target on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. UBS Group began coverage on Elastic in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 price objective on the stock. Canaccord Genuity Group decreased their target price on Elastic from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Royal Bank of Canada upped their price target on Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Elastic has a consensus rating of “Moderate Buy” and a consensus price target of $118.05.

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.