Elastic (NYSE:ESTC) CFO Sells 6,941 Shares

Elastic (NYSE:ESTC) CFO Janesh Moorjani sold 6,941 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $487,605.25. Following the sale, the chief financial officer now directly owns 195,550 shares of the company’s stock, valued at approximately $13,737,387.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Elastic Stock Down 0.9 %

Shares of NYSE ESTC opened at $73.82 on Friday. 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 business’s 50 day moving average is $102.47 and its two-hundred day moving average is $105.07. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 139.28 and a beta of 0.95.

Elastic (NYSE:ESTC) last posted its 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 negative return on equity of 17.54% and a net margin of 4.62%. The firm had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same quarter in the prior year, the company earned ($0.35) EPS. Elastic’s revenue was up 18.3% on a year-over-year basis. Research analysts predict that Elastic will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ESTC. Baillie Gifford & Co. lifted its holdings in Elastic by 30.8% during the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock worth $1,018,110,000 after buying an additional 2,392,356 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Elastic during the second quarter worth $248,335,000. Assenagon Asset Management S.A. acquired a new stake in shares of Elastic in the second quarter valued at $102,169,000. Norges Bank purchased a new position in Elastic in the fourth quarter valued at $92,847,000. Finally, Federated Hermes Inc. grew its stake in Elastic by 32,630.2% during the 2nd quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock worth $70,129,000 after purchasing an additional 613,774 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ESTC. Oppenheimer cut their price objective on Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Bank of America downgraded Elastic from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $140.00 to $94.00 in a research note on Friday, August 30th. Scotiabank decreased their price objective on Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a report on Friday, August 30th. Barclays dropped 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. Finally, Wells Fargo & Company decreased their price target on shares of Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.24.

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.