Jane Bone Sells 629 Shares of Elastic (NYSE:ESTC) Stock

Key Points

• Jane Bone, the CAO of Elastic N.V. (NYSE:ESTC), sold 629 shares on September 9th at an average price of $90.12, decreasing her ownership by 1.60% to approximately $3.5 million.
• Elastic's stock traded down to $89.92 with significant trading volume, maintaining a market cap of $9.56 billion and a consensus rating of "Moderate Buy" from analysts.
• Several hedge funds have increased their positions in Elastic, with 97.03% of the stock held by institutional investors, indicating strong market confidence in the company's prospects.

Elastic N.V. (NYSE:ESTC - Get Free Report) CAO Jane Bone sold 629 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $56,685.48. Following the sale, the chief accounting officer directly owned 38,786 shares in the company, valued at approximately $3,495,394.32. This represents a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Elastic Stock Performance

Shares of ESTC stock traded down $1.27 during trading hours on Wednesday, hitting $89.92. The company's stock had a trading volume of 1,960,671 shares, compared to its average volume of 1,760,792. The company has a 50 day moving average of $83.34 and a 200 day moving average of $86.65. The stock has a market cap of $9.56 billion, a PE ratio of -112.40 and a beta of 1.04. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59. Elastic N.V. has a 12-month low of $70.14 and a 12-month high of $118.84.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ESTC shares. KeyCorp initiated coverage on shares of Elastic in a research note on Tuesday, June 10th. They issued a "sector weight" rating for the company. Cowen reiterated a "hold" rating on shares of Elastic in a research report on Friday, August 29th. UBS Group increased their target price on shares of Elastic from $95.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Robert W. Baird upped their price objective on shares of Elastic from $105.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $130.00 target price on shares of Elastic in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Elastic presently has a consensus rating of "Moderate Buy" and an average target price of $120.00.

Hedge Funds Weigh In On Elastic

A number of hedge funds have recently modified their holdings of the business. Cloud Capital Management LLC purchased a new position in Elastic in the 1st quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of Elastic during the 4th quarter worth $26,000. Signaturefd LLC raised its stake 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 buying an additional 117 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Elastic during the 2nd quarter worth $31,000. Finally, North Capital Inc. acquired a new position in shares of Elastic during the 1st quarter worth $37,000. 97.03% of the stock is currently owned by hedge funds and other 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.

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