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 dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the transaction, the chief executive officer now owns 371,591 shares in the company, valued at $38,140,100.24. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 value of $1,700,575.95.

Elastic Price Performance

ESTC opened at $91.55 on Friday. The business has a fifty day moving average of $105.25 and a 200 day moving average of $95.97. The stock has a market cap of $9.56 billion, a P/E ratio of 166.46 and a beta of 1.20. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96.

Elastic (NYSE:ESTC) last posted its quarterly 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). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The company had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. As a group, sell-side analysts anticipate that Elastic will post -0.77 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ESTC. Truist Financial lifted their price objective on shares of Elastic from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Guggenheim lifted their target price on Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Cantor Fitzgerald assumed coverage on Elastic in a research note on Friday, January 17th. They set a “neutral” rating and a $108.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus price target of $131.39.

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently modified their holdings of ESTC. California State Teachers Retirement System increased its holdings in Elastic by 0.3% during the 4th quarter. California State Teachers Retirement System now owns 81,703 shares of the company’s stock worth $8,095,000 after purchasing an additional 247 shares during the period. 111 Capital purchased a new position in shares of Elastic during the fourth quarter valued at $500,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Elastic in the fourth quarter valued at about $3,558,000. Jefferies Financial Group Inc. purchased a new stake in Elastic in the fourth quarter worth about $456,000. Finally, Infinitum Asset Management LLC bought a new position in Elastic during the 4th quarter worth about $6,936,000. Institutional investors own 97.03% of the company’s stock.

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.