Elastic (NYSE:ESTC – Get Free Report) CEO Ashutosh Kulkarni sold 14,376 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $77.83, for a total value of $1,118,884.08. Following the sale, the chief executive officer now owns 317,953 shares of the company’s stock, valued at $24,746,281.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Elastic Stock Up 0.0 %
ESTC stock opened at $78.59 on Friday. Elastic has a twelve month low of $46.18 and a twelve month high of $87.86. The company has a quick ratio of 1.78, a current ratio of 1.85 and a debt-to-equity ratio of 1.38. The firm has a market cap of $7.73 billion, a PE ratio of -35.08 and a beta of 1.01. The business has a 50 day moving average of $66.17 and a 200 day moving average of $62.97.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. TD Cowen assumed coverage on Elastic in a report on Friday, August 18th. They set a “market perform” rating and a $65.00 target price for the company. Piper Sandler increased their price objective on Elastic from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, September 1st. Oppenheimer reiterated an “outperform” rating and issued a $80.00 price objective on shares of Elastic in a report on Friday, September 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price objective on shares of Elastic in a report on Wednesday, August 30th. Finally, Barclays increased their price objective on Elastic from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, September 1st. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.44.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESTC. Allspring Global Investments Holdings LLC increased its position in Elastic by 418.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 441 shares of the company’s stock valued at $26,000 after buying an additional 356 shares in the last quarter. Whittier Trust Co. bought a new position in Elastic during the 1st quarter valued at approximately $31,000. Quarry LP increased its position in Elastic by 79.6% during the 1st quarter. Quarry LP now owns 591 shares of the company’s stock valued at $34,000 after buying an additional 262 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Elastic by 50.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 707 shares of the company’s stock valued at $36,000 after buying an additional 238 shares in the last quarter. Finally, Amundi increased its position in Elastic by 2,063.8% during the 4th quarter. Amundi now owns 1,017 shares of the company’s stock valued at $53,000 after buying an additional 970 shares in the last quarter. Institutional investors own 74.66% 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.
See Also
- Five stocks we like better than Elastic
- How to Invest in the Healthcare Sector
- WeWork Stock Soars: Meme Stock Madness or Mirage?
- How to Invest in EV Charging Stations
- Shutterstock is the Value Stock they don’t want you to know about
- Are Stock Buybacks Good for the Average Investor?
- 3 Low-Cost ETFs That Are Crushing SPY
Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.
