Elastic NV (NYSE:ESTC) major shareholder Benchmark Capital Management C sold 174,818 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $75.70, for a total transaction of $13,233,722.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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.
ESTC stock traded down $0.83 during midday trading on Friday, reaching $74.47. 1,466,853 shares of the company’s stock traded hands, compared to its average volume of 1,130,732. The stock has a market cap of $5.53 billion and a price-to-earnings ratio of -41.37. Elastic NV has a fifty-two week low of $58.55 and a fifty-two week high of $100.43.
Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers acquired a new position in shares of Elastic during the fourth quarter worth $470,000. Victory Capital Management Inc. acquired a new position in shares of Elastic during the fourth quarter worth $42,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Elastic during the fourth quarter worth $5,426,000. Intel Corp acquired a new position in shares of Elastic during the fourth quarter worth $21,571,000. Finally, Toronto Dominion Bank acquired a new position in shares of Elastic during the fourth quarter worth $1,509,000. 46.54% of the stock is currently owned by hedge funds and other institutional investors.
ESTC has been the subject of a number of recent analyst reports. Monness Crespi & Hardt restated a “buy” rating and issued a $120.00 target price (up from $100.00) on shares of Elastic in a report on Thursday, February 28th. Barclays restated a “buy” rating and issued a $107.00 target price on shares of Elastic in a report on Friday, March 1st. Oppenheimer initiated coverage on shares of Elastic in a report on Wednesday, March 6th. They issued an “outperform” rating and a $110.00 target price for the company. Citigroup boosted their target price on shares of Elastic from $82.00 to $97.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Stifel Nicolaus assumed coverage on shares of Elastic in a research report on Monday, May 13th. They set a “hold” rating and a $75.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Elastic has an average rating of “Hold” and a consensus price target of $93.92.
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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