Ashutosh Kulkarni Sells 19,622 Shares of Elastic (NYSE:ESTC) Stock

by · The Markets Daily

Elastic N.V. (NYSE:ESTC – Get Free Report) CEO Ashutosh Kulkarni sold 19,622 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $1,768,334.64. Following the sale, the chief executive officer directly owned 457,314 shares of the company’s stock, valued at $41,213,137.68. This represents a 4.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Elastic Stock Performance

NYSE:ESTC opened at $87.61 on Friday. The company has a market capitalization of $9.31 billion, a PE ratio of -109.51 and a beta of 1.04. The company has a 50 day simple moving average of $83.49 and a two-hundred day simple moving average of $86.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. Elastic N.V. has a fifty-two week low of $70.14 and a fifty-two week high of $118.84.

Hedge Funds Weigh In On Elastic

Large investors have recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new position in shares of Elastic in the 4th quarter worth $26,000. Cloud Capital Management LLC bought a new position in shares of Elastic in the 1st quarter worth $25,000. Signaturefd LLC lifted its holdings in shares of Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Elastic in the 2nd quarter worth $31,000. Finally, North Capital Inc. bought a new position in shares of Elastic in the 1st quarter worth $37,000. 97.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ESTC has been the subject of a number of recent analyst reports. TD Securities decreased their target price on shares of Elastic from $125.00 to $105.00 and set a “hold” rating for the company in a research report on Wednesday, May 21st. Canaccord Genuity Group raised their price objective on shares of Elastic from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Elastic in a research report on Friday, August 29th. Guggenheim raised their price objective on shares of Elastic from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, KeyCorp began coverage on shares of Elastic in a research report on Tuesday, June 10th. They set a “sector weight” rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Check Out Our Latest Analysis on ESTC

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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