Navam Welihinda Sells 2,261 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CFO Navam Welihinda sold 2,261 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $196,503.51. Following the transaction, the chief financial officer now owns 133,925 shares of the company’s stock, valued at approximately $11,639,421.75. This trade represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Elastic Price Performance

NYSE ESTC opened at $83.24 on Thursday. The company has a 50-day moving average price of $84.71 and a two-hundred day moving average price of $97.25. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 151.35 and a beta of 1.07. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial cut their price target on shares of Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Canaccord Genuity Group decreased their price target on Elastic from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, June 2nd. Rosenblatt Securities cut their price objective on Elastic from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Robert W. Baird reduced their target price on Elastic from $125.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, May 30th. Finally, Wall Street Zen upgraded Elastic from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.63.

Institutional Inflows and Outflows

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

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.