Steven Schuurman Sells 815,000 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the transaction, the director now owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Elastic Stock Performance

Shares of ESTC stock traded up $0.11 during trading hours on Thursday, reaching $100.24. 1,153,635 shares of the company traded hands, compared to its average volume of 1,475,458. Elastic has a 12-month low of $52.30 and a 12-month high of $136.06. The company has a market cap of $10.11 billion, a P/E ratio of 217.65 and a beta of 0.97. The firm has a 50-day moving average price of $117.15 and a 200 day moving average price of $99.70. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.01. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. The business had revenue of $327.96 million during the quarter, compared to the consensus estimate of $320.48 million. As a group, sell-side analysts predict that Elastic will post -1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ESTC shares. Royal Bank of Canada raised their price objective on shares of Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities boosted their price objective on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Piper Sandler raised their target price on shares of Elastic from $84.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Finally, Oppenheimer increased their price objective on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and an average target price of $111.26.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley raised its holdings in Elastic by 830.2% during the 4th quarter. Morgan Stanley now owns 4,413,451 shares of the company’s stock valued at $227,293,000 after buying an additional 3,938,975 shares during the period. Sylebra Capital LLC purchased a new position in shares of Elastic during the 3rd quarter worth about $318,822,000. Voya Investment Management LLC boosted its stake in shares of Elastic by 253.6% during the 4th quarter. Voya Investment Management LLC now owns 3,542,997 shares of the company’s stock worth $399,296,000 after purchasing an additional 2,541,024 shares during the period. Alkeon Capital Management LLC grew its holdings in Elastic by 82.1% during the 3rd quarter. Alkeon Capital Management LLC now owns 1,995,985 shares of the company’s stock valued at $162,154,000 after purchasing an additional 900,000 shares during the last quarter. Finally, Norges Bank purchased a new stake in Elastic in the 4th quarter worth about $92,847,000. 97.03% of the stock is currently owned by institutional investors.

About Elastic

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.