Elastic (NYSE:ESTC) Short Interest Up 6.7% in November
Elastic (NYSE:ESTC – Get Free Report) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,990,000 shares, an increase of 6.7% from the October 31st total of 3,740,000 shares. Based on an average trading volume of 1,290,000 shares, the short-interest ratio is presently 3.1 days. Approximately 5.0% of the company’s shares are sold short.
Insider Transactions at Elastic
In other Elastic news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $81.38, for a total value of $2,034,500.00. Following the completion of the sale, the director now owns 7,729 shares in the company, valued at approximately $628,986.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Ashutosh Kulkarni sold 14,376 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $77.83, for a total value of $1,118,884.08. Following the completion of the sale, the chief executive officer now directly owns 317,953 shares of the company’s stock, valued at approximately $24,746,281.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $81.38, for a total transaction of $2,034,500.00. Following the completion of the sale, the director now directly owns 7,729 shares of the company’s stock, valued at $628,986.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,470 shares of company stock worth $3,783,340. Company insiders own 18.10% of the company’s stock.
Institutional Investors Weigh In On Elastic
Several hedge funds and other institutional investors have recently made changes to their positions in ESTC. PNC Financial Services Group Inc. increased its stake in shares of Elastic by 6.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company’s stock worth $186,000 after purchasing an additional 142 shares in the last quarter. Advisors Asset Management Inc. increased its position in Elastic by 19.6% in the third quarter. Advisors Asset Management Inc. now owns 928 shares of the company’s stock worth $75,000 after buying an additional 152 shares in the last quarter. Treasurer of the State of North Carolina increased its position in Elastic by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 34,154 shares of the company’s stock worth $2,775,000 after buying an additional 170 shares in the last quarter. Truist Financial Corp increased its position in Elastic by 2.5% in the first quarter. Truist Financial Corp now owns 7,536 shares of the company’s stock worth $436,000 after buying an additional 181 shares in the last quarter. Finally, Liberty One Investment Management LLC increased its holdings in Elastic by 10.9% in the 1st quarter. Liberty One Investment Management LLC now owns 2,010 shares of the company’s stock worth $116,000 after acquiring an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 74.66% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have commented on ESTC. Truist Financial raised their price objective on Elastic from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, November 13th. TD Cowen assumed coverage on shares of Elastic in a research report on Friday, August 18th. They set a “market perform” rating and a $65.00 price target for the company. Bank of America lifted their price target on shares of Elastic from $78.00 to $90.00 in a research report on Friday, September 29th. Robert W. Baird lifted their target price on shares of Elastic from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, September 29th. Finally, Needham & Company LLC started coverage on shares of Elastic in a report on Thursday, October 12th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.22.
Check Out Our Latest Stock Analysis on Elastic
Elastic Stock Performance
NYSE:ESTC traded up $29.84 during mid-day trading on Friday, reaching $110.20. The company’s stock had a trading volume of 12,243,764 shares, compared to its average volume of 1,162,883. Elastic has a 12-month low of $46.18 and a 12-month high of $111.75. The firm’s fifty day moving average price is $78.29 and its two-hundred day moving average price is $71.15. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.38. The stock has a market cap of $10.85 billion, a P/E ratio of -55.38 and a beta of 0.88.
Elastic (NYSE:ESTC – Get Free Report) last released its quarterly earnings data on Thursday, November 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.13. The firm had revenue of $311.00 million during the quarter, compared to analysts’ expectations of $304.44 million. Elastic had a negative net margin of 16.62% and a negative return on equity of 31.74%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.50) earnings per share. On average, equities analysts forecast that Elastic will post -1.3 EPS for the current fiscal year.
Elastic Company Profile (Get Free Report)
Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers 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 on that data.
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Original: MarketBeat News Feed: Elastic (NYSE:ESTC) Short Interest Up 6.7% in November