Elastic (NYSE:ESTC) Insider Sells $1,240,884.30 in Stock

Elastic (NYSE:ESTC) insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the completion of the transaction, the insider now owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Carolyn Herzog also recently made the following trade(s):

• On Monday, September 9th, Carolyn Herzog sold 4,489 shares of Elastic stock. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25.

Elastic Stock Performance

Shares of NYSE ESTC traded down $1.40 during trading hours on Wednesday, reaching $110.13. The stock had a trading volume of 1,491,090 shares, compared to its average volume of 1,336,475. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 204.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The business’s fifty day moving average is $83.22 and its two-hundred day moving average is $96.99.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. The firm had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) earnings per share. As a group, research analysts expect that Elastic will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

ESTC has been the subject of a number of research reports. Oppenheimer lifted their price objective on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Bank of America lifted their price target on Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Piper Sandler increased their price objective on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Scotiabank lifted their price objective on shares of Elastic from $92.00 to $135.00 and gave the company a “sector outperform” rating in a research note on Friday, November 22nd. Five equities research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.33.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Asset Dedication LLC boosted its position in Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Elastic during the second quarter worth approximately $40,000. Quarry LP bought a new stake in shares of Elastic during the second quarter valued at approximately $40,000. Lynx Investment Advisory acquired a new stake in shares of Elastic in the 2nd quarter valued at $43,000. Finally, Signaturefd LLC raised 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 acquiring an additional 119 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.