Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni Sells 5,000 Shares

Key Points

• Ashutosh Kulkarni, CEO of Elastic, sold 5,000 shares at an average price of $88.12, resulting in a transaction of $440,600, and now holds 452,314 shares valued at approximately $39.86 million.
• Elastic's stock experienced a decline, trading at $86.62, with a market capitalization of $9.21 billion and a 52-week range between $70.14 and $118.84.
• Recent analyst ratings show a mix of optimism and caution, with target price adjustments ranging from $105 to $125 and an overall average rating of "Moderate Buy".

Elastic N.V. (NYSE:ESTC - Get Free Report) CEO Ashutosh Kulkarni sold 5,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $88.12, for a total transaction of $440,600.00. Following the completion of the sale, the chief executive officer directly owned 452,314 shares of the company's stock, valued at $39,857,909.68. The trade was a 1.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Ashutosh Kulkarni also recently made the following trade(s):

• On Tuesday, September 9th, Ashutosh Kulkarni sold 19,622 shares of Elastic stock. The shares were sold at an average price of $90.12, for a total transaction of $1,768,334.64.

Elastic Stock Performance

Shares of NYSE:ESTC traded down $1.69 on Tuesday, reaching $86.62. The company's stock had a trading volume of 1,550,751 shares, compared to its average volume of 1,754,810. 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 current ratio of 2.09 and a quick ratio of 2.09. The stock's 50-day moving average is $83.53 and its two-hundred day moving average is $86.04. The stock has a market capitalization of $9.21 billion, a P/E ratio of -108.28 and a beta of 1.04.

Hedge Funds Weigh In On Elastic

Large investors have recently bought and sold shares of the stock. Daventry Group LP raised its stake in shares of Elastic by 34.4% in the 2nd 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 during the period. American Trust purchased a new position in shares of Elastic in the 2nd quarter valued at $205,000. Orion Porfolio Solutions LLC raised its stake in shares of Elastic by 5.4% in the 2nd 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 during the period. Promus Capital LLC purchased a new position in shares of Elastic in the 2nd quarter valued at $45,000. Finally, Marex Group plc purchased a new position in shares of Elastic in the 2nd quarter valued at $266,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analyst Ratings Changes

ESTC has been the topic of several recent analyst reports. TD Securities lowered their target price on shares of Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Royal Bank Of Canada upped their price target on shares of Elastic from $106.00 to $125.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Oppenheimer reaffirmed an "outperform" rating on shares of Elastic in a report on Friday, August 29th. Mizuho raised their target price on shares of Elastic from $100.00 to $119.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Finally, Wall Street Zen upgraded Elastic from a "hold" rating to a "buy" rating in a report on Friday, May 30th. 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 company currently has an average rating of "Moderate Buy" and an average price target 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.

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