Insider Selling: Elastic (NYSE:ESTC) CRO Sells 2,755 Shares of Stock

Elastic (NYSE:ESTC) CRO Mark Eugene Dodds sold 2,755 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the transaction, the executive now owns 96,484 shares in the company, valued at approximately $8,757,852.68. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Elastic Stock Down 7.2 %

Elastic stock opened at $91.49 on Friday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 166.35 and a beta of 1.20. The stock’s fifty day moving average is $105.96 and its two-hundred day moving average is $95.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ESTC. Jefferies Financial Group boosted their price target on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Cantor Fitzgerald assumed coverage on Elastic in a report on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Canaccord Genuity Group boosted their price objective on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group upped their price objective on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

Institutional Inflows and Outflows

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

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.