Elastic (NYSE:ESTC) Director Jonathan Chadwick Sells 25,000 Shares

Elastic (NYSE:ESTC) Director Jonathan Chadwick sold 25,000 shares of Elastic stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $74.71, for a total value of $1,867,750.00. Following the completion of the transaction, the director now directly owns 7,729 shares in the company, valued at $577,433.59. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Jonathan Chadwick also recently made the following trade(s):

• On Tuesday, August 1st, Jonathan Chadwick sold 25,000 shares of Elastic stock. The shares were sold at an average price of $66.31, for a total value of $1,657,750.00.
• On Monday, July 3rd, Jonathan Chadwick sold 25,000 shares of Elastic stock. The stock was sold at an average price of $64.57, for a total value of $1,614,250.00.

Elastic Trading Down 0.8 %

Shares of ESTC stock opened at $78.58 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.78 and a current ratio of 1.85. Elastic has a 1 year low of $46.18 and a 1 year high of $91.30. The stock has a fifty day moving average of $64.71 and a two-hundred day moving average of $62.30. The firm has a market capitalization of $7.73 billion, a PE ratio of -35.08 and a beta of 1.01.

Wall Street Analyst Weigh In

Several research firms have issued reports on ESTC. TD Cowen began coverage on Elastic in a report on Friday, August 18th. They set a “market perform” rating and a $65.00 price objective on the stock. DA Davidson initiated coverage on Elastic in a report on Friday, June 16th. They issued a “neutral” rating and a $60.00 price target for the company. Robert W. Baird boosted their price target on Elastic from $80.00 to $85.00 in a report on Friday, September 1st. Citigroup lowered their price target on Elastic from $90.00 to $87.00 and set a “buy” rating for the company in a report on Monday, August 28th. Finally, Wells Fargo & Company boosted their price target on Elastic from $67.00 to $70.00 and gave the company an “equal weight” rating in a report on Friday, September 1st. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.44.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ESTC. Baillie Gifford & Co. lifted its holdings in shares of Elastic by 29.2% in the first quarter. Baillie Gifford & Co. now owns 7,634,113 shares of the company’s stock valued at $442,015,000 after buying an additional 1,723,842 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Elastic by 2.2% in the third quarter. Vanguard Group Inc. now owns 7,370,062 shares of the company’s stock valued at $528,727,000 after buying an additional 157,301 shares during the period. FMR LLC lifted its holdings in shares of Elastic by 11.4% in the first quarter. FMR LLC now owns 6,851,276 shares of the company’s stock valued at $396,689,000 after buying an additional 702,665 shares during the period. BlackRock Inc. lifted its holdings in shares of Elastic by 4.8% in the first quarter. BlackRock Inc. now owns 5,616,149 shares of the company’s stock valued at $499,557,000 after buying an additional 259,742 shares during the period. Finally, Sylebra Capital Ltd lifted its holdings in shares of Elastic by 3.2% in the first quarter. Sylebra Capital Ltd now owns 4,712,076 shares of the company’s stock valued at $272,829,000 after buying an additional 146,397 shares during the period. Institutional investors and hedge funds 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.