Insider Selling: Elastic (NYSE:ESTC) Insider Sells 5,143 Shares of Stock

Key Points

• Carolyn Herzog, an insider at Elastic N.V. (NYSE:ESTC), sold 5,143 shares of the company's stock for approximately $463,487, reducing her ownership by 5.15%.
• Elastic's stock price decreased by 1.4% to $89.92, while analysts maintain a Moderate Buy consensus rating with a target price around $120.00.
• Approximately 97.03% of Elastic's stock is held by institutional investors, suggesting strong institutional interest in the company.

Elastic N.V. (NYSE:ESTC - Get Free Report) insider Carolyn Herzog sold 5,143 shares of Elastic stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $463,487.16. Following the transaction, the insider owned 94,677 shares of the company's stock, valued at $8,532,291.24. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Elastic Stock Up 0.9%

Shares of NYSE ESTC traded up $0.80 during midday trading on Monday, hitting $88.34. 968,911 shares of the company's stock were exchanged, compared to its average volume of 2,427,485. 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 12 month low of $70.14 and a 12 month high of $118.84. The company's 50 day moving average price is $83.53 and its 200 day moving average price is $86.04.

Analysts Set New Price Targets

ESTC has been the subject of several research analyst reports. Cantor Fitzgerald reiterated a "neutral" rating on shares of Elastic in a research note on Friday, August 29th. Scotiabank reiterated an "outperform" rating on shares of Elastic in a research note on Friday, August 29th. Wells Fargo & Company reduced their target price on Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Jefferies Financial Group lifted their target price on Elastic from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Zacks Research downgraded Elastic from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

Institutional Trading of Elastic

Institutional investors have recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Elastic in the 1st quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Elastic during the 4th quarter worth $26,000. Signaturefd LLC grew its holdings in shares of Elastic by 53.7% during the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after purchasing an additional 117 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the 2nd quarter worth $31,000. Finally, North Capital Inc. acquired a new stake in shares of Elastic during the 1st quarter worth $37,000. 97.03% of the stock is currently owned by institutional investors.

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.