Ashutosh Kulkarni Sells 18,735 Shares of Elastic (NYSE:ESTC) Stock

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

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

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

Elastic Stock Up 3.6 %

ESTC stock opened at $95.00 on Friday. The company’s 50 day moving average price is $105.80 and its 200 day moving average price is $95.07. 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 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 $9.92 billion, a price-to-earnings ratio of 172.73 and a beta of 1.20.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates 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, equities research analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

ESTC has been the topic of several recent research reports. Morgan Stanley boosted their price target on shares of Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Cantor Fitzgerald started coverage on shares of Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 price target on the stock. Citigroup upped their target price on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. upped their target price on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company upped their target price on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Hedge Funds Weigh In On Elastic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESTC. QRG Capital Management Inc. boosted its holdings in Elastic by 7.0% in the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after purchasing an additional 201 shares in the last quarter. Assetmark Inc. boosted its holdings in Elastic by 28,132.1% in the third quarter. Assetmark Inc. now owns 7,905 shares of the company’s stock valued at $607,000 after purchasing an additional 7,877 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Elastic by 3.3% in the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after purchasing an additional 219 shares in the last quarter. ING Groep NV acquired a new position in Elastic in the third quarter valued at approximately $6,755,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Elastic in the third quarter valued at approximately $1,262,000. 97.03% of the stock is 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.