Elastic (NYSE:ESTC – Get Free Report) fell 3% during mid-day trading on Tuesday after Robert W. Baird lowered their price target on the stock from $137.00 to $135.00. Robert W. Baird currently has an outperform rating on the stock. Elastic traded as low as $101.30 and last traded at $101.81. 109,351 shares changed hands during trading, a decline of 91% from the average session volume of 1,264,814 shares. The stock had previously closed at $104.95.
Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada boosted their price objective on shares of Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Oppenheimer boosted their price objective on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Barclays cut their price objective on shares of Elastic from $130.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $116.05.
Insider Transactions at Elastic
In related news, CEO Ashutosh Kulkarni sold 15,778 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the completion of the transaction, the chief executive officer now directly owns 364,235 shares in the company, valued at approximately $37,618,190.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Ashutosh Kulkarni sold 15,778 shares of Elastic stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $1,629,551.84. Following the sale, the chief executive officer now directly owns 364,235 shares in the company, valued at approximately $37,618,190.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven Schuurman sold 815,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the transaction, the director now directly owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 962,440 shares of company stock worth $94,535,764. 18.10% of the stock is currently owned by company insiders.
Institutional Trading of Elastic
Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Elastic by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock worth $696,514,000 after buying an additional 380,694 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Elastic during the fourth quarter valued at approximately $25,660,000. UBS Group AG raised its holdings in Elastic by 28.0% during the third quarter. UBS Group AG now owns 56,805 shares of the company’s stock worth $4,615,000 after purchasing an additional 12,430 shares in the last quarter. Northern Trust Corp lifted its position in Elastic by 3.8% in the third quarter. Northern Trust Corp now owns 372,712 shares of the company’s stock worth $30,279,000 after purchasing an additional 13,587 shares during the period. Finally, M&T Bank Corp bought a new position in Elastic during the 3rd quarter valued at $230,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.
Elastic Trading Down 4.6 %
The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $102.64 and a 200-day moving average price of $107.36. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 228.15 and a beta of 0.92.
Elastic (NYSE:ESTC – Get Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The firm had revenue of $327.96 million for the quarter, compared to analyst estimates of $320.48 million. As a group, sell-side analysts predict that Elastic will post -1.13 EPS for the current year.
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.