Insider Selling: Elastic (NYSE:ESTC) CRO Sells 5,514 Shares of Stock

Elastic (NYSE:ESTC) CRO Mark Eugene Dodds sold 5,514 shares of Elastic stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $479,221.74. Following the sale, the executive now directly owns 165,443 shares of the company’s stock, valued at approximately $14,378,651.13. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Elastic Stock Down 1.1%

NYSE ESTC opened at $84.80 on Wednesday. The firm has a market cap of $8.85 billion, a PE ratio of 154.19 and a beta of 1.07. Elastic has a one year low of $69.00 and a one year high of $123.96. The stock’s 50 day simple moving average is $84.57 and its 200 day simple moving average is $97.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. The business had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Elastic’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS. As a group, sell-side analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ESTC. SBI Securities Co. Ltd. bought a new position in Elastic in the 4th quarter valued at $25,000. Cloud Capital Management LLC bought a new position in Elastic in the 1st quarter valued at $25,000. Fourth Dimension Wealth LLC bought a new position in Elastic in the 4th quarter valued at $26,000. Venturi Wealth Management LLC boosted its position in shares of Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ESTC shares. TD Securities reduced their price objective on Elastic from $125.00 to $105.00 and set a “hold” rating for the company in a research report on Wednesday, May 21st. Barclays reduced their price target on Elastic from $124.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, May 30th. Morgan Stanley reduced their price target on Elastic from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on Elastic from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, May 30th. Finally, Cantor Fitzgerald reduced their price target on Elastic from $109.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.63.

About Elastic

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.