Elastic (NYSE:ESTC) CTO Shay Banon Sells 5,117 Shares

Elastic (NYSE:ESTC) CTO Shay Banon sold 5,117 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $444,718.47. Following the transaction, the chief technology officer now directly owns 4,560,291 shares in the company, valued at approximately $396,334,890.81. This represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Elastic Stock Up 0.1%

Shares of Elastic stock opened at $83.29 on Friday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market cap of $8.70 billion, a P/E ratio of 151.44 and a beta of 1.07. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The business has a 50-day moving average price of $84.89 and a 200 day moving average price of $97.05.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.37 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The company had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. During the same period in the prior year, the company earned $0.21 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

ESTC has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of Elastic from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, May 30th. KeyCorp started coverage on Elastic in a research note on Tuesday. They issued a “sector weight” rating on the stock. Scotiabank dropped their price objective on Elastic from $137.00 to $95.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 30th. Truist Financial dropped their price objective on Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Wall Street Zen raised Elastic from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.63.

Institutional Trading of Elastic

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans increased its holdings in shares of Elastic by 187.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company’s stock valued at $899,000 after buying an additional 5,919 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Elastic by 13.3% in the fourth quarter. Cetera Investment Advisers now owns 7,203 shares of the company’s stock valued at $714,000 after buying an additional 843 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Elastic by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 7,299 shares of the company’s stock worth $723,000 after purchasing an additional 241 shares during the period. Bank of New York Mellon Corp raised its position in shares of Elastic by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 482,818 shares of the company’s stock worth $47,838,000 after purchasing an additional 3,772 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in shares of Elastic during the fourth quarter worth $801,000. Institutional investors own 97.03% of the company’s stock.

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.