Navam Welihinda Sells 3,489 Shares of Elastic (NYSE:ESTC) 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 completion of the sale, the chief financial officer directly owned 130,436 shares of the company's stock, valued at $11,754,892.32. The trade was a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Elastic Trading Down 1.4%

Shares of NYSE ESTC traded down $1.27 during trading on Wednesday, reaching $89.92. The stock had a trading volume of 1,960,671 shares, compared to its average volume of 1,760,791. Elastic N.V. has a fifty-two week low of $70.14 and a fifty-two week high of $118.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The business's 50-day moving average price is $83.34 and its 200-day moving average price is $86.65. The company has a market cap of $9.56 billion, a P/E ratio of -112.40 and a beta of 1.04.

Analysts Set New Price Targets

ESTC has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Elastic from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Wedbush dropped 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. UBS Group lifted their price objective on Elastic from $95.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Cantor Fitzgerald reissued a "neutral" rating on shares of Elastic in a research note on Friday, August 29th. Finally, Wells Fargo & Company lowered their target price on Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and an average target price of $120.00.

Institutional Trading of Elastic

A number of institutional investors have recently bought and sold shares of the business. Sylebra Capital LLC lifted its holdings in Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after buying an additional 1,756,842 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Elastic by 5,437.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after buying an additional 2,246,808 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Elastic by 30.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,832,215 shares of the company's stock worth $153,100,000 after buying an additional 428,356 shares during the last quarter. State Street Corp lifted its holdings in Elastic by 4.0% during the 2nd 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 lifted its holdings in Elastic by 3.6% during the 2nd 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 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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