Elastic NV (NYSE:ESTC) Major Shareholder Sells $13,233,722.60 in Stock

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Elastic NV (NYSE:ESTC) major shareholder Benchmark Capital Management C sold 174,818 shares of Elastic stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $75.70, for a total transaction of $13,233,722.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Benchmark Capital Management C also recently made the following trade(s):

  • On Thursday, March 21st, Benchmark Capital Management C sold 111,689 shares of Elastic stock. The shares were sold at an average price of $89.06, for a total transaction of $9,947,022.34.

Shares of Elastic stock traded down $0.83 during trading hours on Friday, reaching $74.47. The company’s stock had a trading volume of 1,466,800 shares, compared to its average volume of 711,783. Elastic NV has a one year low of $58.55 and a one year high of $100.43. The company has a market cap of $5.53 billion and a PE ratio of -41.37.

Elastic (NYSE:ESTC) last posted its earnings results on Wednesday, June 5th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.17. The business had revenue of $80.60 million during the quarter, compared to the consensus estimate of $75.79 million. The business’s revenue was up 62.5% on a year-over-year basis. As a group, sell-side analysts forecast that Elastic NV will post -2.17 earnings per share for the current year.

A number of research firms recently weighed in on ESTC. Monness Crespi & Hardt restated a “buy” rating and set a $125.00 target price (up previously from $120.00) on shares of Elastic in a research note on Thursday, June 6th. Citigroup lifted their target price on shares of Elastic from $82.00 to $97.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Stifel Nicolaus assumed coverage on shares of Elastic in a report on Monday, May 13th. They issued a “hold” rating and a $75.00 price target on the stock. Bank of America lifted their price target on shares of Elastic from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Barclays reiterated a “buy” rating and issued a $107.00 price target on shares of Elastic in a report on Friday, March 1st. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $93.92.

Hedge funds have recently added to or reduced their stakes in the stock. Tyers Asset Management LLC bought a new position in shares of Elastic during the 1st quarter worth approximately $25,000. Coastal Investment Advisors Inc. bought a new position in shares of Elastic during the 1st quarter worth approximately $26,000. Pearl River Capital LLC bought a new position in shares of Elastic during the 1st quarter worth approximately $32,000. Neuburgh Advisers LLC bought a new position in shares of Elastic during the 1st quarter worth approximately $38,000. Finally, Barclays PLC bought a new position in shares of Elastic during the 4th quarter worth approximately $40,000. 46.54% of the stock is owned by hedge funds and other institutional investors.

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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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