Insider Selling: Elastic NV (NYSE:ESTC) Major Shareholder Sells 174,818 Shares of Stock

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.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Wednesday, June 5th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.17. The business had revenue of $80.60 million for the quarter, compared to analyst estimates of $75.79 million. The firm’s revenue for the quarter was up 62.5% compared to the same quarter last year. On average, research analysts anticipate that Elastic NV will post -2.17 earnings per share for the current fiscal year.

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.

WARNING: “Insider Selling: Elastic NV (NYSE:ESTC) Major Shareholder Sells 174,818 Shares of Stock” was originally posted by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://www.baseballdailydigest.com/news/2019/06/15/insider-selling-elastic-nv-nyseestc-major-shareholder-sells-174818-shares-of-stock.html.

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.

Featured Article: Futures Contract

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

Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.