Elastic (NYSE:ESTC) CTO Sells $243,562.74 in Stock

Elastic (NYSE:ESTC) CTO Shay Banon sold 2,683 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $243,562.74. Following the sale, the chief technology officer now directly owns 4,535,456 shares of the company’s stock, valued at approximately $411,728,695.68. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shay Banon also recently made the following trade(s):

• On Tuesday, March 4th, Shay Banon sold 140,129 shares of Elastic stock. The stock was sold at an average price of $106.68, for a total value of $14,948,961.72.
• On Sunday, March 2nd, Shay Banon sold 25,668 shares of Elastic stock. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04.

Elastic Stock Up 1.6 %

Elastic stock opened at $98.61 on Thursday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market capitalization of $10.30 billion, a P/E ratio of 179.30 and a beta of 1.20. The stock has a 50-day simple moving average of $105.97 and a 200-day simple moving average of $95.07.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ESTC shares. Piper Sandler lifted their price objective on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their price objective on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Canaccord Genuity Group lifted their price objective on Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Morgan Stanley lifted their price objective on Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Oppenheimer lifted their price objective on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.52.

Hedge Funds Weigh In On Elastic

Institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in Elastic in the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. acquired a new position in Elastic in the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new position in Elastic in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC increased its position in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in 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 acquiring an additional 158 shares during the period. 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.