Elastic (NYSE:ESTC) CFO Sells $785,566.21 in Stock

Elastic N.V. (NYSE:ESTC) CFO Navam Welihinda sold 12,961 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $785,566.21. Following the transaction, the chief financial officer directly owned 209,254 shares of the company’s stock, valued at approximately $12,682,884.94. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Stock Performance

Shares of ESTC stock opened at $60.33 on Friday. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 19.91 and a beta of 1.00. The stock has a 50 day simple moving average of $52.80 and a 200-day simple moving average of $61.10. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The company has a current ratio of 1.68, a quick ratio of 1.82 and a debt-to-equity ratio of 0.45.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. 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, equities analysts forecast that Elastic N.V. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wolfe Research set a $55.00 price target on Elastic in a report on Friday, May 29th. TD Cowen lowered their price target on Elastic from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday, May 26th. Oppenheimer lowered their price target on Elastic from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Scotiabank lowered their price target on Elastic from $61.00 to $58.00 and set a “sector perform” rating on the stock in a report on Friday, May 29th. Finally, Wedbush lowered their price target on Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.04.

Institutional Investors Weigh In On Elastic

A number of large investors have recently bought and sold shares of ESTC. AQR Capital Management LLC grew its holdings in Elastic by 153.4% during the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after buying an additional 4,567,720 shares during the last quarter. First Trust Advisors LP grew its holdings in Elastic by 516.1% during the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after buying an additional 2,201,140 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Elastic by 43.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock valued at $324,550,000 after buying an additional 1,958,219 shares during the last quarter. FIL Ltd grew its holdings in Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after buying an additional 977,578 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in Elastic by 490.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock valued at $94,080,000 after buying an additional 924,911 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Company Profile

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.