Ashutosh Kulkarni Sells 9,664 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni sold 9,664 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.88, for a total value of $1,061,880.32. Following the completion of the transaction, the chief executive officer now directly owns 452,297 shares of the company’s stock, valued at approximately $49,698,394.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, June 10th, Ashutosh Kulkarni sold 18,819 shares of Elastic stock. The shares were sold at an average price of $109.90, for a total transaction of $2,068,208.10.

Elastic Stock Up 4.3 %

Shares of Elastic stock opened at $114.77 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Elastic has a 1 year low of $57.38 and a 1 year high of $136.06. The stock has a 50-day moving average price of $107.08 and a 200 day moving average price of $110.48. The company has a market cap of $11.67 billion, a P/E ratio of 216.55 and a beta of 0.92.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). The firm had revenue of $335.00 million during the quarter, compared to analyst estimates of $329.15 million. Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. As a group, analysts expect that Elastic will post -1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ESTC has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities upped their target price on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Canaccord Genuity Group lowered their price target on Elastic from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Robert W. Baird cut their price objective on Elastic from $137.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Finally, UBS Group began coverage on Elastic in a report on Wednesday, May 22nd. They set a “buy” rating and a $135.00 target price on the stock. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and an average price target of $118.05.

Hedge Funds Weigh In On Elastic

Several large investors have recently made changes to their positions in ESTC. Sylebra Capital LLC bought a new position in Elastic in the 3rd quarter worth approximately $318,822,000. Baillie Gifford & Co. raised its stake in Elastic by 30.8% during the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock valued at $1,018,110,000 after purchasing an additional 2,392,356 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in Elastic by 82.1% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,995,985 shares of the company’s stock valued at $162,154,000 after purchasing an additional 900,000 shares during the period. Norges Bank acquired a new stake in Elastic in the 4th quarter worth $92,847,000. Finally, 1832 Asset Management L.P. bought a new position in shares of Elastic during the 4th quarter worth about $58,153,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.