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

Key Points

• Ashutosh Kulkarni, CEO of Elastic N.V., sold 19,622 shares at an average price of $90.12, totaling approximately $1.77 million, which decreased his position by 4.11% to 457,314 shares.
• Elastic's stock has a market cap of $9.56 billion with a recent trading price of $89.92, exhibiting a 52-week range between $70.14 and $118.84.
• Analyst ratings for Elastic indicate a consensus of "Moderate Buy" with a target price around $120.00, reflecting positive sentiment from twenty-one analysts.

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

Elastic Stock Performance

Elastic stock traded down $1.27 during trading hours on Wednesday, reaching $89.92. 1,960,671 shares of the stock were exchanged, compared to its average volume of 1,760,791. The stock has a market cap of $9.56 billion, a P/E ratio of -112.40 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. Elastic N.V. has a 52-week low of $70.14 and a 52-week high of $118.84. The firm's 50 day moving average is $83.34 and its 200 day moving average is $86.65.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of analyst reports. DA Davidson initiated coverage on shares of Elastic in a research report on Friday, August 29th. They set a "neutral" rating and a $105.00 price objective for the company. Jefferies Financial Group upped their price objective on shares of Elastic from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Wells Fargo & Company cut their price objective on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Royal Bank Of Canada upped their price target on shares of Elastic from $106.00 to $125.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Robert W. Baird upped their price target on shares of Elastic from $105.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold 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 $120.00.

Hedge Funds Weigh In On Elastic

Institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its stake in Elastic by 5,437.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock valued at $203,872,000 after acquiring an additional 2,246,808 shares during the last quarter. Sylebra Capital LLC grew its stake in Elastic by 62.6% in the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after acquiring an additional 1,756,842 shares during the last quarter. AQR Capital Management LLC grew its stake in Elastic by 6,651.3% in the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company's stock valued at $122,978,000 after acquiring an additional 1,383,065 shares during the last quarter. Driehaus Capital Management LLC grew its stake in Elastic by 1,450.8% in the 1st quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company's stock valued at $78,448,000 after acquiring an additional 823,680 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Elastic by 302.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company's stock valued at $78,649,000 after acquiring an additional 700,697 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

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.

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