Insider Selling: Elastic (NYSE:ESTC) CTO Sells 5,117 Shares of Stock

Elastic (NYSE:ESTC) CTO Shay Banon sold 5,117 shares of Elastic stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $444,718.47. Following the sale, the chief technology officer now owns 4,560,291 shares of the company’s stock, valued at approximately $396,334,890.81. This represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Elastic Price Performance

ESTC opened at $84.80 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The stock’s 50 day simple moving average is $84.57 and its 200 day simple moving average is $97.34. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of 154.19 and a beta of 1.07. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. The company 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%. Elastic’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. As a group, analysts predict that Elastic will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Elastic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESTC. SBI Securities Co. Ltd. purchased a new position in Elastic during the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of Elastic during the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Elastic in the 1st quarter worth approximately $25,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ESTC has been the topic of several recent analyst reports. Stifel Nicolaus reduced their price objective on shares of Elastic from $140.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Wall Street Zen raised shares of Elastic from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Robert W. Baird reduced their price objective on shares of Elastic from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Jefferies Financial Group cut their price target on shares of Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.63.

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.