Elastic (NYSE:ESTC) CFO Sells $314,428.68 in Stock

Key Points

• Navam Welihinda, the CFO of Elastic, sold 3,489 shares of the company's stock at an average price of $90.12, totaling approximately $314,429, reducing his ownership by 2.61%.
• Analysts have varying opinions on Elastic's stock, with Jefferies Financial Group raising its price target from $110 to $125 and Wells Fargo lowering it from $150 to $120, while the consensus rating remains a Moderate Buy.
• Institutional investors have shown significant interest in Elastic, with Sylebra Capital LLC increasing its holdings by 62.6% and other firms also boosting their stakes, demonstrating strong support from the investment community.

Elastic N.V. (NYSE:ESTC - Get Free Report) CFO Navam Welihinda sold 3,489 shares of Elastic stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $314,428.68. Following the transaction, the chief financial officer owned 130,436 shares in the company, valued at $11,754,892.32. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Elastic Price Performance

NYSE ESTC traded up $0.80 on Monday, hitting $88.34. 968,911 shares of the company traded hands, compared to its average volume of 2,427,485. 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 business's 50 day moving average price is $83.53 and its 200-day moving average price is $86.04. Elastic N.V. has a 52-week low of $70.14 and a 52-week high of $118.84.

Institutional Investors Weigh In On Elastic

Large investors have recently made changes to their positions in the company. Cloud Capital Management LLC bought a new stake in shares of Elastic in the first quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of Elastic in the fourth quarter worth about $26,000. Signaturefd LLC increased its holdings in shares of Elastic by 53.7% in the first quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after purchasing an additional 117 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Elastic in the second quarter worth about $31,000. Finally, North Capital Inc. bought a new stake in shares of Elastic in the first quarter worth about $37,000. 97.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ESTC has been the topic of several analyst reports. Wedbush lowered their target price on Elastic from $135.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Mizuho boosted their price objective on Elastic from $100.00 to $119.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Royal Bank Of Canada boosted their price objective on Elastic from $106.00 to $125.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Zacks Research downgraded Elastic from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $130.00 price objective on shares of Elastic in a research report 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 assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.00.

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.