Insider Selling: Elastic (NYSE:ESTC) Insider Sells 11,145 Shares of Stock

Elastic (NYSE:ESTC) insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the transaction, the insider now owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

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

Elastic Trading Down 1.3 %

Shares of NYSE ESTC opened at $110.13 on Friday. The business has a 50 day simple moving average of $83.93 and a 200 day simple moving average of $97.09. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 200.24 and a beta of 0.94. 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, 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 13.54%. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same quarter in the prior year, the business posted ($0.35) EPS. Elastic’s quarterly revenue was up 18.3% on a year-over-year basis. On average, research analysts predict that Elastic will post -0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Robert W. Baird raised Elastic from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $95.00 to $135.00 in a research report on Friday, November 22nd. Piper Sandler increased their price target on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Truist Financial lifted their price target on Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Bank of America upped their price objective on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.33.

Hedge Funds Weigh In On Elastic

Hedge funds have recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC bought a new stake in shares of Elastic during the 3rd quarter worth about $1,262,000. WD Rutherford LLC bought a new stake in Elastic during the second quarter worth approximately $422,000. Assenagon Asset Management S.A. acquired a new position in Elastic during the second quarter valued at approximately $102,169,000. Daventry Group LP raised its position in shares of Elastic by 8.6% in the second quarter. Daventry Group LP now owns 316,975 shares of the company’s stock valued at $36,107,000 after purchasing an additional 25,008 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Elastic in the first quarter worth $1,823,000. 97.03% of the stock is owned by institutional investors and hedge funds.

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.