Elastic NV (NYSE:ESTC) has received a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $96.00.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Elastic from a “sell” rating to a “hold” rating in a research report on Monday. Monness Crespi & Hardt reiterated a “buy” rating and set a $125.00 price target (up from $120.00) on shares of Elastic in a research note on Thursday, June 6th. KeyCorp reiterated a “buy” rating and set a $102.00 price target on shares of Elastic in a research note on Thursday, April 18th. Bank of America boosted their price target on shares of Elastic from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Stifel Nicolaus began coverage on shares of Elastic in a research note on Monday, May 13th. They set a “hold” rating and a $75.00 price target on the stock.
Shares of ESTC traded down $0.48 during midday trading on Thursday, hitting $88.93. 1,054,129 shares of the company’s stock traded hands, compared to its average volume of 875,511. Elastic has a 1 year low of $58.55 and a 1 year high of $104.10. The company’s fifty day moving average is $87.08. The firm has a market cap of $6.74 billion and a PE ratio of -49.41.
In related news, Director Michelangelo Volpi sold 28,298 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $73.94, for a total transaction of $2,092,354.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Shay Banon sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $79.69, for a total transaction of $15,938,000.00. The disclosure for this sale can be found here. Insiders have sold 2,028,440 shares of company stock worth $171,902,506 over the last 90 days. 51.80% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Northern Trust Corp purchased a new position in shares of Elastic in the 4th quarter valued at $2,235,000. Glaxis Capital Management LLC acquired a new stake in Elastic during the 1st quarter valued at $584,000. Pier Capital LLC grew its holdings in Elastic by 122.2% during the 1st quarter. Pier Capital LLC now owns 87,111 shares of the company’s stock valued at $6,958,000 after purchasing an additional 47,910 shares in the last quarter. B. Riley Wealth Management Inc. acquired a new stake in Elastic during the 1st quarter valued at $301,000. Finally, Landsberg Bennett & Dubbaneh LLC acquired a new stake in Elastic during the 2nd quarter valued at $239,000. 40.83% of the stock is currently owned by institutional investors.
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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