Elastic (NYSE:ESTC) Insider Carolyn Herzog Sells 5,702 Shares

Elastic (NYSE:ESTC) insider Carolyn Herzog sold 5,702 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $495,560.82. Following the transaction, the insider now directly owns 93,985 shares of the company’s stock, valued at approximately $8,168,236.35. This trade represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Elastic Price Performance

NYSE ESTC opened at $84.80 on Wednesday. Elastic has a one year low of $69.00 and a one year high of $123.96. The stock has a 50-day moving average of $84.57 and a 200 day moving average of $97.34. 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 company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 154.19 and a beta of 1.07.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. The firm had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. On average, sell-side analysts forecast that Elastic will post -0.77 EPS for the current year.

Institutional Trading of Elastic

Several large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Elastic in the fourth quarter worth about $25,000. Cloud Capital Management LLC bought a new position in shares of Elastic in the 1st quarter worth approximately $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of Elastic in the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC grew its position in Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after buying an additional 238 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 158 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ESTC shares. Cantor Fitzgerald lowered their price target on Elastic from $109.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Rosenblatt Securities dropped their price target on Elastic from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Barclays reduced their price objective on shares of Elastic from $124.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. DA Davidson dropped their target price on shares of Elastic from $115.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Scotiabank reduced their price target on shares of Elastic from $137.00 to $95.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.63.

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.