Elastic (NYSE:ESTC) Insider Sells $1,240,884.30 in Stock

Elastic (NYSE:ESTC) insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the completion of the sale, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Carolyn Herzog also recently made the following trade(s):

• On Monday, September 9th, Carolyn Herzog sold 4,489 shares of Elastic stock. The stock was sold at an average price of $70.25, for a total transaction of $315,352.25.

Elastic Stock Performance

ESTC opened at $109.52 on Friday. The company’s 50 day moving average is $84.60 and its 200 day moving average is $97.18. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.70. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 199.13 and a beta of 0.94. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 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 $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same quarter last year, the company posted ($0.35) EPS. The company’s revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts predict that Elastic will post -0.79 EPS for the current year.

Institutional Trading of Elastic

Hedge funds have recently bought and sold shares of the stock. Asset Dedication LLC lifted its position in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares in the last quarter. AlphaCentric Advisors LLC purchased a new position in Elastic during the second quarter valued at approximately $40,000. Quarry LP bought a new position in shares of Elastic in the second quarter worth approximately $40,000. Lynx Investment Advisory purchased a new stake in shares of Elastic in the second quarter worth $43,000. Finally, Signaturefd LLC raised its position in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the period. Institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ESTC. Robert W. Baird raised Elastic from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $95.00 to $135.00 in a research report on Friday, November 22nd. Oppenheimer lifted their price target on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Scotiabank upped their price target on shares of Elastic from $92.00 to $135.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Barclays raised their price objective on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, UBS Group cut their price target on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.33.

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.