Elastic (NYSE:ESTC) Insider Sells $601,243.38 in Stock

Elastic (NYSE:ESTC - Get Free Report) insider Ken Exner sold 6,918 shares of the company'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 $601,243.38. Following the transaction, the insider now owns 230,494 shares of the company's stock, valued at approximately $20,032,233.54. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Elastic Price Performance

ESTC stock traded down $3.93 during trading hours on Friday, hitting $79.32. 2,595,142 shares of the stock traded hands, compared to its average volume of 1,507,262. The stock has a 50-day simple moving average of $85.02 and a 200 day simple moving average of $96.83. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a market cap of $8.28 billion, a P/E ratio of 144.22 and a beta of 1.07. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $388.43 million during the quarter, compared to analysts' expectations of $380.61 million. During the same quarter last year, the business posted $0.21 earnings per share. The company's quarterly revenue was up 15.9% on a year-over-year basis. Equities analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Elastic by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after purchasing an additional 168,483 shares during the last quarter. Sylebra Capital LLC lifted its holdings in shares of Elastic by 62.6% during the fourth 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 lifted its holdings in shares of Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock valued at $339,820,000 after purchasing 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 first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock valued at $203,872,000 after purchasing an additional 2,246,808 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Elastic by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock valued at $142,663,000 after purchasing an additional 45,076 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

ESTC has been the subject of a number of recent research reports. Wedbush lowered their price objective on Elastic from $135.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Stifel Nicolaus lowered their price objective on Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Robert W. Baird lowered their price objective on Elastic from $125.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. DA Davidson lowered their price objective on Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Jefferies Financial Group lowered their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $113.63.

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.