Elastic (NYSE:ESTC) Insider Carolyn Herzog Sells 5,143 Shares

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 on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $463,487.16. Following the completion of the transaction, the insider directly owned 94,677 shares in the company, valued at $8,532,291.24. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Elastic Stock Down 1.4%

NYSE ESTC traded down $1.27 on Wednesday, hitting $89.92. The stock had a trading volume of 1,960,671 shares, compared to its average volume of 1,760,791. The business's fifty day moving average price is $83.34 and its 200 day moving average price is $86.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09. Elastic N.V. has a 52-week low of $70.14 and a 52-week high of $118.84. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of -112.40 and a beta of 1.04.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of Elastic from $106.00 to $125.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Robert W. Baird lifted their price target on shares of Elastic from $105.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Wedbush lowered their price objective on shares of Elastic from $135.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Scotiabank reiterated an "outperform" rating on shares of Elastic in a research note on Friday, August 29th. Finally, Wall Street Zen upgraded shares of Elastic from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cloud Capital Management LLC acquired a new position in Elastic during the first quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new position in Elastic during the fourth quarter valued at $26,000. Signaturefd LLC lifted its position in Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares during the period. Geneos Wealth Management Inc. acquired a new position in Elastic during the second quarter valued at $31,000. Finally, North Capital Inc. acquired a new position in Elastic during the first quarter valued at $37,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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