Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni Sells 19,622 Shares

Elastic N.V. (NYSE:ESTC) CEO Ashutosh Kulkarni sold 19,622 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $1,768,334.64. Following the sale, the chief executive officer directly owned 457,314 shares of the company’s stock, valued at $41,213,137.68. This represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Elastic Price Performance

Shares of ESTC stock opened at $89.92 on Thursday. Elastic N.V. has a 52-week low of $70.14 and a 52-week high of $118.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The firm has a market capitalization of $9.56 billion, a P/E ratio of -112.40 and a beta of 1.04. The stock has a 50 day moving average price of $83.45 and a 200 day moving average price of $86.67.

Institutional Investors Weigh In On Elastic

Several institutional investors have recently bought and sold shares of the company. Daventry Group LP boosted its stake in Elastic by 34.4% in the second quarter. Daventry Group LP now owns 728,120 shares of the company’s stock valued at $61,402,000 after acquiring an additional 186,479 shares in the last quarter. American Trust acquired a new stake in Elastic in the second quarter valued at approximately $205,000. Orion Porfolio Solutions LLC boosted its stake in Elastic by 5.4% in the second quarter. Orion Porfolio Solutions LLC now owns 8,475 shares of the company’s stock valued at $715,000 after acquiring an additional 437 shares in the last quarter. Promus Capital LLC acquired a new stake in Elastic in the second quarter valued at approximately $45,000. Finally, Marex Group plc purchased a new position in shares of Elastic in the second quarter worth $266,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ESTC shares. Wedbush decreased their price target on Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. Stifel Nicolaus lifted their target price on Elastic from $112.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Cowen reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, August 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Elastic in a research report on Friday, August 29th. Finally, Wall Street Zen raised Elastic from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.00.

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.