Carolyn Herzog Sells 9,485 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) insider Carolyn Herzog sold 9,485 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $574,885.85. Following the completion of the sale, the insider owned 128,439 shares of the company’s stock, valued at approximately $7,784,687.79. This represents a 6.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Down 0.9%

Shares of ESTC traded down $0.56 during trading hours on Wednesday, reaching $60.70. The stock had a trading volume of 1,241,304 shares, compared to its average volume of 2,103,974. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. Elastic N.V. has a 52 week low of $42.05 and a 52 week high of $96.07. The firm has a 50-day moving average of $52.16 and a 200 day moving average of $61.33. The company has a market cap of $6.28 billion, a P/E ratio of 17.34, a P/E/G ratio of 86.23 and a beta of 1.00.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 2.02%. The business had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, sell-side analysts expect that Elastic N.V. will post 0.03 earnings per share for the current fiscal year.

Key Headlines Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: No clear positive company-specific catalyst was disclosed in the latest headlines.
• Neutral Sentiment: Several executives and insiders, including the CEO, CFO, CTO, CRO, CAO, and another insider, sold shares on June 9 at $60.61. The company said the transactions were made to cover tax withholding obligations tied to vesting equity awards, which makes them less concerning than open-market selling, but the large number of sales can still weigh on investor sentiment. Article
• Neutral Sentiment: Elastic also disclosed a new sales and marketing risk related to regulatory hurdles and budget pressures in government contracts, suggesting potential headwinds for revenue from public-sector customers. Article
• Negative Sentiment: The cluster of insider sales, especially the CEO’s and CFO’s larger transactions, may be read by investors as a cautious signal even though the company framed them as tax-related rather than discretionary selling.

Analyst Ratings Changes

A number of brokerages recently weighed in on ESTC. Oppenheimer reduced their target price on shares of Elastic from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, May 29th. Royal Bank Of Canada reduced their price objective on shares of Elastic from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. DA Davidson dropped their price objective on Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 29th. Rosenblatt Securities restated a “buy” rating and issued a $110.00 price objective on shares of Elastic in a research note on Tuesday, May 26th. Finally, Barclays cut their price objective on shares of Elastic from $76.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Eighteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.04.

Institutional Investors Weigh In On Elastic

Several hedge funds have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC lifted its position in Elastic by 1.4% during the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock worth $726,000 after acquiring an additional 118 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Elastic by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after acquiring an additional 171 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Elastic by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after purchasing an additional 175 shares during the period. Jones Financial Companies Lllp raised its position in shares of Elastic by 6.9% in the third quarter. Jones Financial Companies Lllp now owns 3,020 shares of the company’s stock valued at $260,000 after buying an additional 194 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Elastic by 0.3% in the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after buying an additional 219 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

About Elastic

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.