Insider Buying: Elastic (NYSE:ESTC) Director Purchases 20,000 Shares of Stock

Elastic (NYSE:ESTC) Director Paul R. Auvil III purchased 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the purchase, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Elastic Stock Up 0.1 %

ESTC stock opened at $73.34 on Thursday. The stock has a market capitalization of $7.46 billion, a PE ratio of 138.38 and a beta of 0.94. The company has a fifty day moving average of $107.60 and a 200-day moving average of $107.20. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 1.76. Elastic has a one year low of $69.66 and a one year high of $136.06.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 18.41%. The firm had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the prior year, the company posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. As a group, analysts expect that Elastic will post -1.12 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Elastic from $117.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $136.00 price objective on shares of Elastic in a report on Tuesday, August 27th. Citigroup lifted their target price on Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Truist Financial dropped their price target on Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Baird R W lowered Elastic from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.45.

Institutional Trading of Elastic

Several hedge funds have recently modified their holdings of ESTC. Advisors Asset Management Inc. raised its position in Elastic by 12.7% in the first quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock worth $106,000 after acquiring an additional 119 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Elastic by 8.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,469 shares of the company’s stock worth $278,000 after buying an additional 185 shares in the last quarter. Headlands Technologies LLC increased its holdings in Elastic by 75.4% in the second quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after buying an additional 270 shares in the last quarter. Finally, Asset Dedication LLC grew its holdings in shares of Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

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.