Insider Selling: Elastic (NYSE:ESTC) CRO Sells 2,755 Shares of Stock

Elastic (NYSE:ESTC) CRO Mark Eugene Dodds sold 2,755 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $250,071.35. Following the sale, the executive now owns 96,484 shares of the company’s stock, valued at approximately $8,757,852.68. The trade was a 2.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Elastic Trading Up 1.6 %

Shares of ESTC opened at $98.61 on Thursday. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 179.30 and a beta of 1.20. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The business’s fifty day moving average is $105.97 and its 200-day moving average is $95.07.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The firm had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Equities analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Elastic in the 4th quarter valued at about $3,558,000. Jefferies Financial Group Inc. acquired a new position in Elastic during the 4th quarter worth approximately $456,000. Infinitum Asset Management LLC acquired a new position in Elastic during the 4th quarter worth approximately $6,936,000. Public Employees Retirement System of Ohio raised its stake in Elastic by 1.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 29,907 shares of the company’s stock worth $2,963,000 after buying an additional 359 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new position in Elastic during the 4th quarter worth approximately $26,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ESTC shares. Barclays increased their target price on Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Stifel Nicolaus upped their target price on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Oppenheimer upped their price target on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.52.

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.