Elastic (NYSE:ESTC) CEO Sells 29,227 Shares

Elastic N.V. (NYSE:ESTC) CEO Ashutosh Kulkarni sold 29,227 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total transaction of $2,565,546.06. Following the completion of the transaction, the chief executive officer owned 599,525 shares of the company’s stock, valued at approximately $52,626,304.50. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Down 3.6%

Shares of ESTC stock traded down $3.13 during trading hours on Thursday, hitting $83.45. 2,100,369 shares of the company’s stock traded hands, compared to its average volume of 2,176,438. The stock has a market cap of $8.76 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 8.56 and a beta of 1.03. The stock’s 50 day simple moving average is $73.76 and its 200 day simple moving average is $60.74. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $108.00.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.12. The company had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. Elastic’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, sell-side analysts anticipate that Elastic N.V. will post 0.56 EPS for the current year.

Wall Street Analyst Weigh In

ESTC has been the subject of several recent research reports. UBS Group increased their price target on Elastic from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Jefferies Financial Group lifted their price objective on Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Morgan Stanley upped their target price on Elastic from $66.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. Citigroup increased their target price on shares of Elastic from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, Truist Financial upped their price objective on shares of Elastic from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.12.

Institutional Investors Weigh In On Elastic

Several institutional investors and hedge funds have recently made changes to their positions in ESTC. Geneos Wealth Management Inc. acquired a new stake in Elastic during the second quarter worth approximately $31,000. Bessemer Group Inc. acquired a new position in Elastic in the first quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd lifted its stake in Elastic by 206.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after buying an additional 371 shares during the period. Basecamp Wealth Advisors LLC bought a new position in shares of Elastic during the 1st quarter worth approximately $28,000. Finally, Quarry LP grew its position in shares of Elastic by 16,200.0% during the 4th quarter. Quarry LP now owns 652 shares of the company’s stock worth $49,000 after buying an additional 648 shares during the period. Institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.