Elastic NV (NYSE:ESTC)’s stock price rose 5.9% on Thursday . The company traded as high as $89.16 and last traded at $89.16, approximately 1,974,932 shares were traded during mid-day trading. An increase of 136% from the average daily volume of 835,398 shares. The stock had previously closed at $84.17.

Several analysts recently commented on the stock. Bank of America set a $20.00 price objective on shares of Fiat Chrysler Automobiles and gave the company a “hold” rating in a research report on Thursday, June 6th. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Monness Crespi & Hardt reissued a “buy” rating and set a $185.00 price objective (up from $150.00) on shares of Mongodb in a research report on Thursday, June 6th. KeyCorp cut their price objective on shares of PolyOne from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. 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 objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $93.92.

The company’s fifty day moving average price is $78.84. The company has a market capitalization of $5.91 billion and a PE ratio of -49.53.

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

In other news, CRO Aaron Katz sold 15,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $84.74, for a total value of $1,271,100.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP W.H. Baird Garrett sold 20,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $83.29, for a total transaction of $1,665,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,523,440 shares of company stock worth $121,369,434. Insiders own 51.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. FIL Ltd lifted its stake in shares of Elastic by 203.3% in the 1st quarter. FIL Ltd now owns 3,750,978 shares of the company’s stock worth $299,591,000 after purchasing an additional 2,514,334 shares during the period. Lunia Capital LP bought a new position in shares of Elastic in the 4th quarter worth approximately $2,072,000. FMR LLC lifted its stake in shares of Elastic by 110.7% in the 1st quarter. FMR LLC now owns 1,046,489 shares of the company’s stock worth $83,582,000 after purchasing an additional 549,862 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Elastic in the 4th quarter worth approximately $32,012,000. Finally, BlackRock Inc. bought a new position in shares of Elastic in the 4th quarter worth approximately $30,062,000. Hedge funds and other institutional investors own 41.66% of the company’s stock.

About Elastic (NYSE:ESTC)

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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