Elastic (NYSE:ESTC) CRO Mark Eugene Dodds Sells 2,755 Shares

Elastic (NYSE:ESTC) CRO Mark Eugene Dodds sold 2,755 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the sale, the executive now owns 96,484 shares in the company, valued at $8,757,852.68. This represents a 2.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Elastic Stock Performance

Shares of ESTC traded up $1.52 during mid-day trading on Wednesday, hitting $98.61. The stock had a trading volume of 1,449,190 shares, compared to its average volume of 1,303,549. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market cap of $10.30 billion, a P/E ratio of 179.30 and a beta of 1.20. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The business has a fifty day moving average price of $105.97 and a 200-day moving average price of $95.07.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (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 the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. On average, equities research analysts expect that Elastic will post -0.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on ESTC shares. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Elastic in a report on Tuesday, February 25th. Piper Sandler upped their price target on Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Barclays upped their target price on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, DA Davidson increased their target price on shares of Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus target price of $131.52.

Institutional Trading of Elastic

A number of institutional investors have recently modified their holdings of ESTC. QRG Capital Management Inc. raised its holdings in Elastic by 7.0% during the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after acquiring an additional 201 shares during the period. Assetmark Inc. grew its position in shares of 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. raised its stake in shares of Elastic by 3.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after purchasing an additional 219 shares during the period. ING Groep NV purchased a new stake in Elastic during the 3rd quarter worth about $6,755,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in Elastic in the 3rd quarter worth about $1,262,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.