Mark Eugene Dodds Sells 3,661 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CRO Mark Eugene Dodds sold 3,661 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $257,185.25. Following the completion of the transaction, the executive now owns 102,683 shares of the company’s stock, valued at approximately $7,213,480.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Elastic Stock Performance

NYSE:ESTC opened at $74.46 on Thursday. The firm’s fifty day simple moving average is $104.14 and its 200-day simple moving average is $105.50. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The stock has a market cap of $7.65 billion, a PE ratio of 140.49 and a beta of 0.95. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share 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 17.54%. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same period in the prior year, the business posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. Analysts expect that Elastic will post -0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elastic

Several hedge funds and other institutional investors have recently bought and sold shares of ESTC. Victory Capital Management Inc. increased its position in shares of Elastic by 24.1% in the fourth quarter. Victory Capital Management Inc. now owns 10,875 shares of the company’s stock valued at $1,226,000 after buying an additional 2,114 shares in the last quarter. Amalgamated Bank grew its stake in Elastic by 3.7% in the 4th quarter. Amalgamated Bank now owns 17,341 shares of the company’s stock valued at $1,954,000 after acquiring an additional 612 shares during the last quarter. M&T Bank Corp increased its holdings in Elastic by 11.7% during the 4th quarter. M&T Bank Corp now owns 3,164 shares of the company’s stock valued at $357,000 after acquiring an additional 332 shares in the last quarter. National Bank of Canada FI increased its holdings in Elastic by 428.2% during the 4th quarter. National Bank of Canada FI now owns 11,225 shares of the company’s stock valued at $1,196,000 after acquiring an additional 9,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Elastic by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,828 shares of the company’s stock worth $56,781,000 after acquiring an additional 18,558 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ESTC. Wells Fargo & Company dropped their price target on Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Robert W. Baird cut shares of Elastic from an “outperform” rating to a “neutral” rating and cut their target price for the company from $135.00 to $95.00 in a report on Friday, August 30th. TD Cowen decreased their price target on shares of Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Citigroup lifted their price objective on shares of Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Jefferies Financial Group reduced their target price on shares of Elastic from $140.00 to $110.00 and set a “buy” rating for the company in a report on Friday, August 30th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and an average price target of $104.24.

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.