Jane E. 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 E. Bone sold 629 shares of Elastic stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $56,685.48. Following the sale, the chief accounting officer owned 38,786 shares in the company, valued at approximately $3,495,394.32. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Elastic Stock Up 0.9%

Shares of Elastic stock traded up $0.80 during trading on Monday, hitting $88.34. 968,911 shares of the company's stock traded hands, compared to its average volume of 2,427,485. Elastic N.V. has a twelve month low of $70.14 and a twelve month high of $118.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09. The firm's fifty day moving average price is $83.53 and its 200 day moving average price is $86.04.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of Elastic from $105.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. DA Davidson assumed coverage on shares of Elastic in a research report on Friday, August 29th. They issued a "neutral" rating and a $105.00 price target on the stock. Rosenblatt Securities restated a "buy" rating and issued a $130.00 price target on shares of Elastic in a research report on Friday, August 29th. Robert W. Baird boosted their price target on shares of Elastic from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Finally, Cowen restated a "hold" rating on shares of Elastic in a research report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.00.

Hedge Funds Weigh In On Elastic

A number of institutional investors have recently modified their holdings of the stock. Sylebra Capital LLC raised its stake in shares of Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after acquiring an additional 1,756,842 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after acquiring an additional 2,246,808 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Elastic by 30.5% in the second quarter. AQR Capital Management LLC now owns 1,832,215 shares of the company's stock worth $153,100,000 after acquiring an additional 428,356 shares during the last quarter. State Street Corp raised its stake in shares of Elastic by 4.0% during the second quarter. State Street Corp now owns 1,574,525 shares of the company's stock worth $132,780,000 after buying an additional 59,850 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Elastic by 3.6% during the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company's stock worth $132,384,000 after buying an additional 54,812 shares during the last quarter. 97.03% of the stock is 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.