Elastic (NYSE:ESTC) CFO Navam Welihinda Sells 1,256 Shares

Elastic N.V. (NYSE:ESTC) CFO Navam Welihinda sold 1,256 shares of Elastic stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $84.58, for a total transaction of $106,232.48. Following the transaction, the chief financial officer owned 129,247 shares in the company, valued at approximately $10,931,711.26. The trade was a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Navam Welihinda also recently made the following trade(s):

• On Tuesday, September 9th, Navam Welihinda sold 3,489 shares of Elastic stock. The shares were sold at an average price of $90.12, for a total transaction of $314,428.68.

Elastic Trading Down 4.3%

Elastic stock opened at $80.39 on Wednesday. The company’s fifty day simple moving average is $83.40 and its 200-day simple moving average is $84.83. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. Elastic N.V. has a 12 month low of $70.14 and a 12 month high of $118.84. The stock has a market cap of $8.54 billion, a P/E ratio of -100.48 and a beta of 1.05.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC lifted its position in Elastic by 53.7% during the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 117 shares during the last quarter. Y.D. More Investments Ltd lifted its position in Elastic by 0.5% during the 1st quarter. Y.D. More Investments Ltd now owns 29,742 shares of the company’s stock worth $2,756,000 after acquiring an additional 145 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after acquiring an additional 152 shares during the last quarter. WCM Investment Management LLC raised its stake in Elastic by 0.7% during the 1st quarter. WCM Investment Management LLC now owns 23,811 shares of the company’s stock valued at $2,183,000 after purchasing an additional 169 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ESTC. Scotiabank set a $90.00 price target on shares of Elastic and gave the company a “sector perform” rating in a report on Monday. Piper Sandler boosted their price target on shares of Elastic from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Canaccord Genuity Group boosted their price target on shares of Elastic from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 29th. Monness Crespi & Hardt lifted their price objective on shares of Elastic from $111.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Stifel Nicolaus lifted their price objective on shares of Elastic from $112.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.60.

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.