Ashutosh Kulkarni Sells 19,649 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 19,649 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the transaction, the chief executive officer now directly owns 432,648 shares in the company, valued at $30,393,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ashutosh Kulkarni also recently made the following trade(s):

• On Monday, June 24th, Ashutosh Kulkarni sold 9,664 shares of Elastic stock. The shares were sold at an average price of $109.88, for a total transaction of $1,061,880.32.

Elastic Price Performance

ESTC stock traded up $1.00 during trading on Tuesday, hitting $72.10. 1,286,644 shares of the company’s stock traded hands, compared to its average volume of 1,348,552. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 136.04 and a beta of 0.95. The business has a fifty day simple moving average of $104.14 and a 200 day simple moving average of $105.50. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The firm had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. During the same quarter last year, the firm earned ($0.35) EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, research analysts expect that Elastic will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Elastic

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. DA Davidson decreased their target price on Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 30th. Wells Fargo & Company decreased their price objective on Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Oppenheimer cut their price objective on Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Piper Sandler decreased their target price on shares of Elastic from $131.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, Barclays lowered their price target on shares of Elastic from $117.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and an average price target of $104.45.

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.