Elastic (NYSE:ESTC) Shares Up 5.1%

Elastic (NYSE:ESTC) shot up 5.1% on Thursday . The company traded as high as $115.74 and last traded at $115.68. 484,602 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 1,324,509 shares. The stock had previously closed at $110.04.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ESTC. Oppenheimer upped their target price on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Rosenblatt Securities upped their target price on shares of Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Robert W. Baird reduced their target price on shares of Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. The Goldman Sachs Group increased their price objective on shares of Elastic from $93.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Stifel Nicolaus cut their price objective on shares of Elastic from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $118.05.

Elastic Trading Down 0.7 %

The firm has a market cap of $11.59 billion, a P/E ratio of 214.92 and a beta of 0.92. The business’s 50-day moving average is $107.44 and its two-hundred day moving average is $110.46. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.76.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). The business had revenue of $335.00 million during the quarter, compared to the consensus estimate of $329.15 million. Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. As a group, analysts predict that Elastic will post -1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 18,819 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $109.90, for a total value of $2,068,208.10. Following the completion of the sale, the chief executive officer now owns 461,961 shares in the company, valued at $50,769,513.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Ashutosh Kulkarni sold 18,819 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $109.90, for a total transaction of $2,068,208.10. Following the completion of the sale, the chief executive officer now owns 461,961 shares in the company, valued at approximately $50,769,513.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Mark Eugene Dodds sold 3,457 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $110.78, for a total transaction of $382,966.46. Following the sale, the executive now owns 82,498 shares of the company’s stock, valued at approximately $9,139,128.44. The disclosure for this sale can be found here. Insiders sold a total of 355,312 shares of company stock worth $38,626,610 over the last quarter. 18.10% of the stock is currently owned by insiders.

Institutional Trading of Elastic

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. raised its stake in Elastic by 30.8% in the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock worth $1,018,110,000 after purchasing an additional 2,392,356 shares in the last quarter. Vanguard Group Inc. raised its stake in Elastic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock worth $863,440,000 after purchasing an additional 44,597 shares in the last quarter. Sylebra Capital LLC acquired a new stake in Elastic in the 3rd quarter worth about $318,822,000. JPMorgan Chase & Co. raised its stake in Elastic by 5.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,969,585 shares of the company’s stock worth $241,249,000 after purchasing an additional 155,612 shares in the last quarter. Finally, Alkeon Capital Management LLC raised its stake in Elastic by 82.1% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,995,985 shares of the company’s stock worth $162,154,000 after purchasing an additional 900,000 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.