Ashutosh Kulkarni Sells 18,735 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 18,735 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the transaction, the chief executive officer now owns 376,591 shares of the company’s stock, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Ashutosh Kulkarni also recently made the following trade(s):

• On Wednesday, December 18th, Ashutosh Kulkarni sold 7,017 shares of Elastic stock. The stock was sold at an average price of $108.12, for a total value of $758,678.04.

Elastic Stock Down 7.2 %

Shares of Elastic stock opened at $91.49 on Friday. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The company has a market cap of $9.55 billion, a P/E ratio of 166.35 and a beta of 1.20. 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 stock has a 50-day moving average price of $105.96 and a 200 day moving average price of $95.10.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The company had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. As a group, analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Elastic

A number of institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic during the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in Elastic in the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Elastic during the 4th quarter worth about $26,000. Venturi Wealth Management LLC lifted its holdings in shares of Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after buying an additional 238 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ESTC shares. Cantor Fitzgerald started coverage on Elastic in a research note on Friday, January 17th. They set a “neutral” rating and a $108.00 target price on the stock. The Goldman Sachs Group upped their price objective on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Jefferies Financial Group raised their price objective on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Elastic presently has an average rating of “Moderate Buy” and a consensus price target of $131.52.

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.