Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni Sells 12,098 Shares

Elastic (NYSE:ESTC – Get Rating) CEO Ashutosh Kulkarni sold 12,098 shares of the firm’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $58.28, for a total transaction of $705,071.44. Following the completion of the transaction, the chief executive officer now directly owns 343,037 shares of the company’s stock, valued at $19,992,196.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Elastic Stock Down 0.1 %

NYSE:ESTC opened at $55.12 on Wednesday. Elastic has a twelve month low of $46.18 and a twelve month high of $96.12. The company has a market cap of $5.32 billion, a price-to-earnings ratio of -20.41 and a beta of 1.09. The stock has a fifty day simple moving average of $57.38 and a 200-day simple moving average of $62.31. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 1.47.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of Elastic from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Royal Bank of Canada lowered their price target on Elastic from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, November 28th. Wedbush began coverage on Elastic in a research report on Wednesday, December 14th. They issued a “neutral” rating and a $67.00 price target for the company. Canaccord Genuity Group lowered their price target on Elastic from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, January 18th. Finally, Citigroup lowered their price target on Elastic from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.38.

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently made changes to their positions in ESTC. Baillie Gifford & Co. bought a new stake in shares of Elastic in the third quarter valued at about $347,776,000. Morgan Stanley raised its holdings in shares of Elastic by 830.2% in the fourth quarter. Morgan Stanley now owns 4,413,451 shares of the company’s stock valued at $227,293,000 after acquiring an additional 3,938,975 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Elastic by 62.3% in the fourth quarter. Deutsche Bank AG now owns 2,287,816 shares of the company’s stock valued at $117,823,000 after acquiring an additional 877,988 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Elastic by 37.8% in the second quarter. JPMorgan Chase & Co. now owns 3,077,284 shares of the company’s stock valued at $208,240,000 after acquiring an additional 843,403 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Elastic in the fourth quarter valued at about $40,308,000. 78.40% of the stock is currently owned by institutional investors.

Elastic Company Profile

(Get Rating)

Elastic NV engages in the provision of open-source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured, Kibana, a user interface, management, and configuration interface for the Elastic Stack, Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash, and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.