Jonathan Chadwick Sells 6,250 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTCGet Rating) Director Jonathan Chadwick sold 6,250 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $82.29, for a total transaction of $514,312.50. Following the transaction, the director now owns 5,102 shares in the company, valued at $419,843.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of ESTC traded down $4.14 during mid-day trading on Tuesday, hitting $79.09. The company’s stock had a trading volume of 751,395 shares, compared to its average volume of 1,477,085. The company’s 50-day moving average is $85.05 and its 200-day moving average is $115.04. Elastic has a 52-week low of $66.39 and a 52-week high of $189.84. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of -39.94 and a beta of 1.25. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 1.31.

Elastic (NYSE:ESTCGet Rating) last announced its quarterly earnings results on Thursday, March 3rd. The company reported ($0.53) earnings per share for the quarter, hitting the consensus estimate of ($0.53). Elastic had a negative net margin of 22.67% and a negative return on equity of 34.20%. The firm had revenue of $223.94 million during the quarter, compared to analysts’ expectations of $209.71 million. During the same quarter in the prior year, the company earned ($0.33) EPS. The company’s revenue was up 42.5% compared to the same quarter last year. As a group, sell-side analysts predict that Elastic will post -1.79 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Arizona State Retirement System lifted its position in Elastic by 0.3% during the third quarter. Arizona State Retirement System now owns 17,116 shares of the company’s stock valued at $2,550,000 after acquiring an additional 58 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Elastic by 8.8% during the third quarter. Rockefeller Capital Management L.P. now owns 916 shares of the company’s stock valued at $136,000 after acquiring an additional 74 shares during the last quarter. Sigma Planning Corp lifted its position in Elastic by 3.9% during the fourth quarter. Sigma Planning Corp now owns 4,033 shares of the company’s stock valued at $496,000 after acquiring an additional 150 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its position in Elastic by 5.7% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,168 shares of the company’s stock valued at $390,000 after acquiring an additional 172 shares during the last quarter. Finally, Eaton Vance Management lifted its position in Elastic by 0.3% during the third quarter. Eaton Vance Management now owns 52,676 shares of the company’s stock valued at $7,821,000 after acquiring an additional 181 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

ESTC has been the topic of several analyst reports. Piper Sandler cut their price target on shares of Elastic from $175.00 to $155.00 in a report on Thursday, January 6th. Stifel Nicolaus cut their price target on shares of Elastic from $148.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, March 21st. Zacks Investment Research downgraded shares of Elastic from a “buy” rating to a “hold” rating in a research note on Friday, March 11th. Oppenheimer dropped their target price on shares of Elastic from $185.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, March 4th. Finally, Royal Bank of Canada dropped their target price on shares of Elastic from $165.00 to $133.00 in a research note on Monday, February 28th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Elastic presently has an average rating of “Buy” and a consensus price target of $148.41.

About Elastic (Get Rating)

Elastic N.V., a search company, delivers technology that enables users to search through structured and unstructured data for a range of consumer and enterprise applications. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization.

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