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

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 business's stock in a transaction on Tuesday, September 9th. The shares were 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 $41,213,137.68. This trade represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Elastic Stock Performance

Shares of ESTC traded up $0.80 during mid-day trading on Monday, reaching $88.34. 968,911 shares of the stock traded hands, compared to its average volume of 2,427,485. The firm has a fifty day moving average price of $83.53 and a 200 day moving average price of $86.04. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. Elastic N.V. has a 1 year low of $70.14 and a 1 year high of $118.84.

Institutional Trading of Elastic

A number of institutional investors have recently modified their holdings of ESTC. Sylebra Capital LLC raised its stake in Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after buying an additional 1,756,842 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after buying an additional 2,246,808 shares in the last quarter. AQR Capital Management LLC raised its stake in Elastic by 30.5% in the second quarter. AQR Capital Management LLC now owns 1,832,215 shares of the company's stock worth $153,100,000 after buying an additional 428,356 shares in the last quarter. State Street Corp raised its stake in Elastic by 4.0% in the second quarter. State Street Corp now owns 1,574,525 shares of the company's stock worth $132,780,000 after buying an additional 59,850 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Elastic by 3.6% in the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company's stock worth $132,384,000 after buying an additional 54,812 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ESTC. Morgan Stanley boosted their price target on shares of Elastic from $115.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Robert W. Baird boosted their price target on shares of Elastic from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Wells Fargo & Company reduced their price target 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. Wedbush cut their target price on shares of Elastic from $135.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Finally, Scotiabank reiterated an "outperform" rating on shares of Elastic in a research report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.00.

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.