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Home›Search Engine Stocks›Elastic (NYSE: ESTC) Insider Sells $ 1,209,778.64 In Stock

Elastic (NYSE: ESTC) Insider Sells $ 1,209,778.64 In Stock

By Katharine Fleischmann
September 12, 2021
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Elastic (NYSE: ESTC) insider Paul Andrew Appleby sold 7,448 shares of the company in a trade on Thursday, September 9. The shares were sold for an average price of $ 162.43, for a total value of $ 1,209,778.64. The transaction was disclosed in a document filed with the SEC, which is available on the SEC’s website.

Elastic stock traded down $ 3.63 during trading hours on Friday, reaching $ 159.66. The stock had a trading volume of 475,924 shares, compared to its average volume of 938,624. The stock has a market cap of $ 14.66 billion, a PE ratio of -97.95 and a beta of. 1.08. Elastic has a 52-week low of $ 97.48 and a 52-week high of $ 176.49. The company has a debt ratio of 1.24, a current ratio of 2.71, and a quick ratio of 2.71. The company has a fifty-day simple moving average of $ 152.51 and a 200-day simple moving average of $ 134.06.

Elastic (NYSE: ESTC) last reported its quarterly results on Tuesday, August 24. The company reported earnings per share (EPS) of $ 0.04 for the quarter, beating analyst consensus estimates ($ 0.10) by $ 0.14. The company posted revenue of $ 193.10 million for the quarter, compared to analysts’ estimates of $ 173.21 million. Elastic had a negative net margin of 21.54% and a negative return on equity of 26.26%. The company’s revenue grew 49.8% year-over-year. In the same quarter of last year, the company achieved EPS of $ 0.06. Research analysts predict that Elastic will post earnings per share of -1.78 for the current fiscal year.

Institutional investors have recently changed their positions in the company. Total Clarity Wealth Management Inc. purchased a new 1st quarter stake in Elastic valued at $ 26,000. Maverick Capital Ltd. bought a new stake in Elastic in the 1st quarter valued at $ 65,000. Capital Analysts LLC purchased a new stake in Elastic shares in the 1st quarter valued at approximately $ 98,000. Panagora Asset Management Inc. purchased a new stake in Elastic shares in the 1st quarter valued at approximately $ 112,000. Finally, Rockefeller Capital Management LP increased its position in Elastic shares by 18.8% in the 1st quarter. Rockefeller Capital Management LP now owns 1,212 shares of the company valued at $ 134,000 after purchasing 192 additional shares during the period. 75.60% of the shares are currently held by institutional investors and hedge funds.

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ESTC has been the subject of a number of recent analyst reports. Jefferies Financial Group raised its target price on Elastic shares from $ 150.00 to $ 175.00 and gave the company a “buy” rating in a research report on Tuesday, July 13. Oppenheimer raised its target price on Elastic from $ 170.00 to $ 185.00 and rated the stock as “outperforming” in a report released Thursday, August 26. Barclays raised its price target on Elastic from $ 180.00 to $ 185.00 and rated the stock “overweight” in a report released Thursday, August 26. Monness Crespi & Hardt raised his price target on Elastic from $ 212.00 to $ 230.00 and gave the stock a “buy” rating in a report released Thursday, August 26. Finally, Sumitomo Mitsui Financial Group assumed coverage of Elastic in a report released on Wednesday, June 16. They issued an “outperformance” rating and a target price of $ 150.00 on the stock. One investment analyst assigned a sell rating to the stock, two assigned a conservation rating and sixteen assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 178.50.

About Elastic

Elastic NV is committed to providing open source search engine and analytics services. It offers Elastic Stack, a set of software products that ingest and store data from a variety of sources and formats, as well as perform research, analysis, and visualization. Elastic Stack’s product includes Elasticsearch, a real-time distributed search and analytics engine, and a data store for various types of data, including text, numeric, geospatial, structured and unstructured; Kibana, a user interface, a management and configuration interface for the Elastic Suite; Beats, a one-time data sender for sending data from edge machines to Elasticsearch or Logstash; and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.

Featured Article: Market Synchronization

Insider Buys and Sells by Quarter for Elastic (NYSE: ESTC)

This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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