Elastic (NYSE:ESTC) Insider Ken Exner Sells 6,918 Shares

Elastic (NYSE:ESTC) insider Ken Exner sold 6,918 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $601,243.38. Following the sale, the insider now owns 230,494 shares in the company, valued at $20,032,233.54. The trade was a 2.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Elastic Stock Down 1.1%

Shares of NYSE ESTC opened at $84.80 on Wednesday. The company’s 50 day moving average price is $84.57 and its 200-day moving average price is $97.34. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The company has a market capitalization of $8.85 billion, a P/E ratio of 154.19 and a beta of 1.07.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.37 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 $388.43 million for the quarter, compared to analysts’ expectations of $380.61 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Institutional Investors Weigh In On Elastic

A number of hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its stake in Elastic by 185.2% during the 1st quarter. Acadian Asset Management LLC now owns 20,279 shares of the company’s stock worth $1,805,000 after buying an additional 13,169 shares during the period. Focus Partners Wealth bought a new stake in shares of Elastic during the first quarter valued at approximately $494,000. Bayforest Capital Ltd increased its holdings in shares of Elastic by 542.8% during the first quarter. Bayforest Capital Ltd now owns 10,902 shares of the company’s stock valued at $971,000 after acquiring an additional 9,206 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Elastic by 3.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 429,526 shares of the company’s stock worth $38,271,000 after purchasing an additional 12,510 shares during the period. Finally, Prostatis Group LLC bought a new position in shares of Elastic in the 1st quarter worth $325,000. 97.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ESTC has been the subject of several recent analyst reports. Wedbush cut their price objective on Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, May 30th. Oppenheimer lowered their price target on Elastic from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Cantor Fitzgerald cut their price objective on Elastic from $109.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. UBS Group boosted their target price on Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Scotiabank cut their price target on Elastic from $137.00 to $95.00 and set a “sector outperform” rating for the company in a report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $113.63.

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.