Elastic Target of Unusually Large Options Trading (NYSE:ESTC)

Elastic (NYSE:ESTC) saw some unusual options trading activity on Friday. Stock traders acquired 4,489 call options on the stock. This represents an increase of approximately 178% compared to the average daily volume of 1,613 call options.

Insider Activity

In other news, CFO Janesh Moorjani sold 6,941 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $487,605.25. Following the completion of the sale, the chief financial officer now directly owns 195,550 shares of the company’s stock, valued at $13,737,387.50. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the sale, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,406 shares of company stock worth $2,627,772 over the last quarter. 15.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elastic

Several institutional investors have recently bought and sold shares of ESTC. FMR LLC increased its position in Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after acquiring an additional 1,115,750 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in Elastic in the 2nd quarter worth about $248,335,000. Atreides Management LP boosted its stake in shares of Elastic by 57.2% during the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after purchasing an additional 614,309 shares in the last quarter. State Street Corp grew its position in shares of Elastic by 2.3% in the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock worth $110,323,000 after buying an additional 31,663 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Elastic by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock worth $107,058,000 after acquiring an additional 50,355 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Trading Up 19.8 %

Shares of NYSE ESTC traded up $18.65 during midday trading on Friday, hitting $112.78. The stock had a trading volume of 3,119,653 shares, compared to its average volume of 1,302,963. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market cap of $11.59 billion, a P/E ratio of 204.49 and a beta of 0.94. The company’s 50-day simple moving average is $80.71 and its 200 day simple moving average is $97.05.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.25 by $0.10. The company had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.35) earnings per share. Research analysts anticipate that Elastic will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ESTC. Jefferies Financial Group dropped their price objective on shares of Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Wells Fargo & Company boosted their price target on shares of Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group lowered their target price on shares of Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $120.00 price target on shares of Elastic in a report on Wednesday. Finally, Canaccord Genuity Group cut their price target on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $111.14.

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.