Elastic (NYSE:ESTC) Insider Sells $315,352.25 in Stock

Elastic (NYSE:ESTC) insider Carolyn Herzog sold 4,489 shares of Elastic stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $315,352.25. Following the completion of the sale, the insider now directly owns 102,959 shares in the company, valued at approximately $7,232,869.75. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Elastic Stock Performance

NYSE:ESTC opened at $74.46 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market cap of $7.65 billion, a PE ratio of 140.49 and a beta of 0.95. The firm has a 50 day simple moving average of $104.14 and a 200-day simple moving average of $105.50. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating 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 company had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. During the same period in the previous year, the firm posted ($0.35) EPS. Elastic’s revenue was up 18.3% on a year-over-year basis. On average, equities analysts expect that Elastic will post -0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ESTC shares. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research report on Friday, August 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $136.00 price target on shares of Elastic in a report on Tuesday, August 27th. Robert W. Baird downgraded shares of Elastic from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $135.00 to $95.00 in a report on Friday, August 30th. Citigroup increased their target price on shares of Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Piper Sandler reduced their price target on shares of Elastic from $131.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $104.24.

Hedge Funds Weigh In On Elastic

Several large investors have recently added to or reduced their stakes in ESTC. Nordea Investment Management AB purchased a new position in shares of Elastic during the 1st quarter worth about $3,104,000. Toronto Dominion Bank acquired a new position in Elastic during the first quarter worth approximately $5,780,000. Quantbot Technologies LP raised its stake in Elastic by 165.2% during the first quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock worth $1,295,000 after purchasing an additional 8,048 shares during the period. CenterBook Partners LP boosted its holdings in shares of Elastic by 13.1% in the 4th quarter. CenterBook Partners LP now owns 27,985 shares of the company’s stock valued at $3,154,000 after purchasing an additional 3,245 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Elastic by 737.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,617 shares of the company’s stock valued at $1,766,000 after buying an additional 15,514 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.