Ashutosh Kulkarni Sells 5,000 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the transaction, the chief executive officer now directly owns 371,591 shares of the company’s stock, valued at $38,140,100.24. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 10th, Ashutosh Kulkarni sold 18,735 shares of Elastic stock. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95.

Elastic Stock Performance

Shares of NYSE ESTC opened at $94.96 on Friday. The firm’s fifty day moving average is $105.43 and its two-hundred day moving average is $95.83. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The company has a market cap of $9.91 billion, a P/E ratio of 172.65 and a beta of 1.20. 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 posted its earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The firm had revenue of $382.08 million during 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%. As a group, analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ESTC. Robert W. Baird upped their price objective on Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Guggenheim increased their price objective on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Scotiabank cut their target price on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a research report on Thursday. Truist Financial increased their price target on shares of Elastic from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Morgan Stanley boosted their price objective 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. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $131.39.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. bought a new stake in Elastic during the fourth quarter worth approximately $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 bought a new stake in shares of Elastic in the 4th quarter worth about $26,000. Venturi Wealth Management LLC lifted its holdings in shares of Elastic by 793.3% in the 4th 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 last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.