Elastic (NYSE:ESTC) CEO Sells $758,678.04 in Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Elastic Trading Down 0.2 %

Elastic stock traded down $0.20 during midday trading on Thursday, reaching $103.71. The stock had a trading volume of 1,183,132 shares, compared to its average volume of 1,349,045. The stock has a market capitalization of $10.75 billion, a PE ratio of 188.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The stock’s 50-day simple moving average is $93.37 and its 200 day simple moving average is $97.37. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. 272 Capital LP acquired a new stake in shares of Elastic in the 3rd quarter valued at about $1,104,000. Oddo BHF Asset Management Sas acquired a new stake in shares of Elastic during the third quarter worth $14,324,000. Franklin Resources Inc. lifted its holdings in Elastic by 256.3% in the third quarter. Franklin Resources Inc. now owns 341,524 shares of the company’s stock worth $28,387,000 after acquiring an additional 245,680 shares during the last quarter. Tidal Investments LLC raised its position in shares of Elastic by 239.1% during the 3rd quarter. Tidal Investments LLC now owns 9,807 shares of the company’s stock worth $753,000 after purchasing an additional 6,915 shares during the period. Finally, Virtu Financial LLC lifted its holdings in shares of Elastic by 131.9% in the 3rd quarter. Virtu Financial LLC now owns 4,338 shares of the company’s stock worth $333,000 after purchasing an additional 2,467 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ESTC. Jefferies Financial Group boosted their target price on Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Guggenheim boosted their price objective on shares of Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Citigroup raised their target price on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Rosenblatt Securities restated a “buy” rating and set a $120.00 target price on shares of Elastic in a research report on Wednesday, November 20th. Finally, TD Cowen lowered their price target on shares of Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.50.

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.