Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni Sells 7,017 Shares

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Elastic Stock Down 0.2 %

Elastic stock opened at $103.71 on Friday. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The stock has a fifty day simple moving average of $93.37 and a two-hundred day simple moving average of $97.37. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 188.56 and a beta of 1.02.

Wall Street Analyst Weigh In

ESTC has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Robert W. Baird upgraded shares of Elastic from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $95.00 to $135.00 in a research report on Friday, November 22nd. UBS Group lowered their price target on Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Wells Fargo & Company upped their price objective on Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus increased their price objective on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus price target of $126.50.

Hedge Funds Weigh In On Elastic

Hedge funds have recently bought and sold shares of the business. Asset Dedication LLC grew its stake in shares of Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares during the period. AlphaCentric Advisors LLC bought a new position in Elastic in the second quarter valued at about $40,000. Quarry LP purchased a new position in Elastic in the second quarter worth about $40,000. Signaturefd LLC increased its position in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the last quarter. Finally, Eastern Bank bought a new stake in Elastic during the third quarter valued at approximately $61,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

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.