Elastic (NYSE:ESTC) CFO Sells $196,503.51 in Stock

Elastic (NYSE:ESTC - Get Free Report) CFO Navam Welihinda sold 2,261 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $196,503.51. Following the sale, the chief financial officer now directly owns 133,925 shares of the company's stock, valued at approximately $11,639,421.75. This represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Elastic Stock Performance

Shares of Elastic stock traded down $1.48 during trading hours on Wednesday, hitting $83.24. 1,856,020 shares of the company's stock traded hands, compared to its average volume of 1,502,825. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96. The company has a fifty day simple moving average of $84.71 and a 200-day simple moving average of $97.25. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 151.35 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. The firm had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. Equities research analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Elastic

Several hedge funds and other institutional investors have recently modified their holdings of ESTC. Vanguard Group Inc. boosted its position in Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after acquiring an additional 168,483 shares in the last quarter. Sylebra Capital LLC boosted its stake in Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after purchasing an additional 1,756,842 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Elastic by 15.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after buying an additional 462,974 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Elastic by 5,437.6% during 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 buying an additional 2,246,808 shares during the period. Finally, Geode Capital Management LLC boosted its position in Elastic by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock worth $142,663,000 after purchasing an additional 45,076 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TD Securities cut their target price on shares of Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Wall Street Zen raised Elastic from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Rosenblatt Securities lowered their target price on Elastic from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Truist Financial dropped their target price on Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, DA Davidson decreased their price target on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $113.63.

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.