Elastic (NYSE:ESTC) Director Sells $79,495,100.00 in Stock

Elastic (NYSE:ESTCGet Free Report) Director Steven Schuurman sold 815,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the sale, the director now directly owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Elastic Stock Performance

Shares of ESTC stock opened at $100.24 on Friday. The business’s 50 day simple moving average is $116.39 and its 200 day simple moving average is $99.99. Elastic has a one year low of $52.30 and a one year high of $136.06. The stock has a market capitalization of $10.10 billion, a PE ratio of 217.91 and a beta of 0.97. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87.

Elastic (NYSE:ESTCGet Free Report) last announced its earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The business had revenue of $327.96 million for the quarter, compared to analysts’ expectations of $320.48 million. As a group, research analysts forecast that Elastic will post -1.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Stifel Nicolaus boosted their price target on Elastic from $99.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, March 1st. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Oppenheimer boosted their price target on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Rosenblatt Securities boosted their price target on Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Barclays lowered their target price on Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $111.26.

Read Our Latest Stock Report on Elastic

Institutional Trading of Elastic

Several institutional investors have recently added to or reduced their stakes in ESTC. Rakuten Securities Inc. bought a new stake in Elastic in the fourth quarter valued at approximately $25,000. Quarry LP boosted its holdings in shares of Elastic by 79.6% during the 1st quarter. Quarry LP now owns 591 shares of the company’s stock worth $34,000 after buying an additional 262 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Elastic by 168.3% during the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after buying an additional 281 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Elastic by 50.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 707 shares of the company’s stock worth $36,000 after buying an additional 238 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Elastic during the 4th quarter worth approximately $39,000. 97.03% of the stock is currently owned by institutional investors.

Elastic Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Elastic (NYSE:ESTC)

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