Insider Selling: Elastic (NYSE:ESTC) Director Sells 815,000 Shares of Stock

Elastic (NYSE:ESTC) Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 8,382,000 shares in the company, valued at approximately $817,580,280. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Elastic Stock Performance

NYSE ESTC traded up $0.11 during trading on Thursday, reaching $100.24. The company’s stock had a trading volume of 1,153,635 shares, compared to its average volume of 1,475,458. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 217.65 and a beta of 0.97. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average price of $117.15 and a 200 day moving average price of $99.70. Elastic has a 12 month low of $52.30 and a 12 month high of $136.06.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, topping 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 firm had revenue of $327.96 million during the quarter, compared to analysts’ expectations of $320.48 million. As a group, equities analysts anticipate that Elastic will post -1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ESTC has been the topic of several analyst reports. Oppenheimer boosted their price target on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Citigroup dropped their target price on shares of Elastic from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Wedbush restated a “neutral” rating and set a $67.00 target price on shares of Elastic in a research report on Friday, December 1st. Barclays decreased their price objective 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. Finally, Piper Sandler increased their target price on shares of Elastic from $84.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, December 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $111.26.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC raised its holdings in Elastic by 4.7% during the 3rd quarter. FMR LLC now owns 9,051,434 shares of the company’s stock worth $735,338,000 after purchasing an additional 409,717 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Elastic by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after acquiring an additional 380,694 shares during the period. Baillie Gifford & Co. grew its holdings in Elastic by 2.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company’s stock worth $875,044,000 after purchasing an additional 211,896 shares during the period. BlackRock Inc. increased its stake in Elastic by 4.8% in the first quarter. BlackRock Inc. now owns 5,616,149 shares of the company’s stock valued at $499,557,000 after purchasing an additional 259,742 shares in the last quarter. Finally, Sylebra Capital Ltd raised its holdings in shares of Elastic by 3.2% during the first quarter. Sylebra Capital Ltd now owns 4,712,076 shares of the company’s stock valued at $272,829,000 after purchasing an additional 146,397 shares during the period. 97.03% of the stock is currently owned by institutional investors.

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.