Ashutosh Kulkarni Sells 5,000 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the completion of the sale, the chief executive officer now directly owns 371,591 shares of the company’s stock, valued at $38,140,100.24. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, March 10th, Ashutosh Kulkarni sold 18,735 shares of Elastic stock. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95.

Elastic Price Performance

ESTC traded down $3.08 during midday trading on Wednesday, reaching $99.34. 696,434 shares of the company’s stock were exchanged, compared to its average volume of 1,296,071. The business’s 50-day moving average price is $105.53 and its 200 day moving average price is $95.81. The stock has a market capitalization of $10.37 billion, a PE ratio of 180.62 and a beta of 1.20. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC) last posted its 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). The company had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. As a group, equities analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ESTC has been the topic of several analyst reports. UBS Group lifted their target price on Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company increased their price target on Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Wedbush cut shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler boosted their price target on shares of Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.52.

Institutional Trading of Elastic

Large investors have recently made changes to their positions in the stock. Sylebra Capital LLC raised its stake in Elastic by 62.6% in the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock valued at $451,950,000 after purchasing an additional 1,756,842 shares during the last quarter. FMR LLC grew its holdings in shares of Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after buying an additional 1,115,750 shares in the last quarter. Norges Bank purchased a new position in shares of Elastic during the fourth quarter valued at approximately $102,485,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Elastic by 5,972.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock valued at $73,751,000 after buying an additional 732,100 shares during the period. Finally, Atreides Management LP boosted its position in Elastic by 57.2% during the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after acquiring an additional 614,309 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.