Insider Selling: Elastic (NYSE:ESTC) CEO Sells 7,017 Shares of Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was 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. This represents a 1.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Elastic Stock Down 0.1 %

NYSE:ESTC opened at $103.63 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a one year low of $69.00 and a one year high of $136.06. The firm’s 50 day simple moving average is $93.80 and its 200 day simple moving average is $97.41. The company has a market cap of $10.74 billion, a PE ratio of 188.42 and a beta of 1.02.

Institutional Trading of Elastic

Several institutional investors have recently modified their holdings of ESTC. 1832 Asset Management L.P. bought a new position in Elastic during the 2nd quarter worth $248,335,000. FMR LLC increased its stake in shares of Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after buying an additional 1,115,750 shares during the period. Atreides Management LP increased its stake in shares of Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after buying an additional 614,309 shares during the period. Federated Hermes Inc. raised its position in shares of Elastic by 32,630.2% during the second quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock worth $70,129,000 after acquiring an additional 613,774 shares during the last quarter. Finally, JAT Capital Mgmt LP lifted its stake in shares of Elastic by 601.4% in the third quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock worth $35,736,000 after acquiring an additional 399,175 shares during the period. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. UBS Group dropped their price target on Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 30th. William Blair raised Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. The Goldman Sachs Group lifted their target price on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Oppenheimer upped their price target on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Six investment 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.