Elastic (NYSE:ESTC) CFO Janesh Moorjani Sells 6,941 Shares

Elastic (NYSE:ESTC) CFO Janesh Moorjani sold 6,941 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $487,605.25. Following the transaction, the chief financial officer now owns 195,550 shares of the company’s stock, valued at $13,737,387.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Elastic Trading Up 1.4 %

Shares of Elastic stock opened at $72.10 on Wednesday. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The stock has a market cap of $7.41 billion, a P/E ratio of 136.04 and a beta of 0.95. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $104.14 and its 200-day moving average is $105.50.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same quarter in the prior year, the business posted ($0.35) EPS. The business’s revenue was up 18.3% compared to the same quarter last year. Equities research analysts predict that Elastic will post -0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elastic

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Elastic in the 2nd quarter valued at $40,000. Creative Planning raised its stake in Elastic by 21.5% in the 2nd quarter. Creative Planning now owns 9,413 shares of the company’s stock valued at $1,072,000 after acquiring an additional 1,668 shares during the period. Driehaus Capital Management LLC raised its stake in Elastic by 4.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 499,915 shares of the company’s stock valued at $56,945,000 after acquiring an additional 20,633 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Elastic in the 2nd quarter valued at $683,000. Finally, Daventry Group LP raised its stake in Elastic by 8.6% in the 2nd quarter. Daventry Group LP now owns 316,975 shares of the company’s stock valued at $36,107,000 after acquiring an additional 25,008 shares during the period. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ESTC. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research report on Friday, August 30th. Oppenheimer decreased their target price on Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Royal Bank of Canada decreased their target price on Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Stifel Nicolaus decreased their price objective on Elastic from $120.00 to $98.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, Jefferies Financial Group decreased their price objective on Elastic from $140.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $104.45.

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.