Insider Selling: Elastic NV (NYSE:ESTC) Director Sells $24,568,555.20 in Stock

Elastic NV (NYSE:ESTC) Director Michelangelo Volpi sold 287,688 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $85.40, for a total value of $24,568,555.20.

Michelangelo Volpi also recently made the following trade(s):

  • On Thursday, June 27th, Michelangelo Volpi sold 28,298 shares of Elastic stock. The stock was sold at an average price of $73.94, for a total value of $2,092,354.12.
  • On Thursday, June 20th, Michelangelo Volpi sold 34,784 shares of Elastic stock. The stock was sold at an average price of $78.19, for a total value of $2,719,760.96.

NYSE ESTC opened at $94.02 on Friday. Elastic NV has a 1-year low of $58.55 and a 1-year high of $104.10. The company has a market capitalization of $6.78 billion and a P/E ratio of -52.23. The business has a 50 day moving average price of $88.91 and a 200 day moving average price of $85.23.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.09. Elastic had a negative return on equity of 44.18% and a negative net margin of 41.18%. The firm had revenue of $89.70 million during the quarter, compared to the consensus estimate of $83.49 million. The firm’s revenue was up 58.5% compared to the same quarter last year. Equities research analysts anticipate that Elastic NV will post -2.08 earnings per share for the current year.

Several equities analysts recently weighed in on ESTC shares. Zacks Investment Research raised Elastic from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Wednesday, September 4th. Stifel Nicolaus raised their price objective on Elastic from $85.00 to $100.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Citigroup raised their price objective on Elastic from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Bank of America raised their price objective on Elastic from $135.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada raised their price objective on Elastic from $112.00 to $117.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $104.00.

Institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Management Inc. purchased a new position in Elastic during the first quarter worth $301,000. BP PLC purchased a new position in Elastic during the second quarter worth $1,002,000. Landsberg Bennett & Dubbaneh LLC purchased a new position in Elastic during the second quarter worth $239,000. FMR LLC increased its position in Elastic by 110.7% during the first quarter. FMR LLC now owns 1,046,489 shares of the company’s stock worth $83,582,000 after buying an additional 549,862 shares in the last quarter. Finally, Aperio Group LLC purchased a new position in Elastic during the second quarter worth $528,000. 52.10% of the stock is owned by institutional investors.

Elastic Company Profile

Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.

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Insider Buying and Selling by Quarter for Elastic (NYSE:ESTC)

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