Insider Selling: Elastic (NYSE:ESTC) CRO Sells 5,514 Shares of Stock

Elastic (NYSE:ESTC - Get Free Report) CRO Mark Eugene Dodds sold 5,514 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $479,221.74. Following the sale, the executive now directly owns 165,443 shares of the company's stock, valued at approximately $14,378,651.13. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Elastic Price Performance

Shares of NYSE ESTC traded down $1.65 during midday trading on Friday, reaching $81.60. 785,726 shares of the stock traded hands, compared to its average volume of 1,715,618. The company's 50 day moving average is $84.89 and its 200 day moving average is $97.05. Elastic has a one year low of $69.00 and a one year high of $123.96. The stock has a market capitalization of $8.52 billion, a PE ratio of 148.36 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 data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.37 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. During the same quarter last year, the business earned $0.21 earnings per share. Elastic's quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ESTC. Janney Montgomery Scott LLC purchased a new stake in Elastic during the fourth quarter valued at approximately $202,000. Stratos Wealth Partners LTD. purchased a new stake in Elastic during the 4th quarter valued at $444,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Elastic in the fourth quarter worth $231,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Elastic by 22.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,639 shares of the company's stock worth $1,054,000 after buying an additional 1,924 shares during the period. Finally, Savant Capital LLC purchased a new position in Elastic during the fourth quarter worth $7,212,000. Institutional investors own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Wall Street Zen upgraded Elastic from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Rosenblatt Securities lowered their price objective on Elastic from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Canaccord Genuity Group cut their price objective on Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Finally, Cantor Fitzgerald decreased their target price on shares of Elastic from $109.00 to $92.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock 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.