Insider Selling: Elastic (NYSE:ESTC) CAO Sells $390,372.48 in Stock

Elastic N.V. (NYSE:ESTC) CAO Jane Bone sold 4,176 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $93.48, for a total transaction of $390,372.48. Following the completion of the transaction, the chief accounting officer owned 49,239 shares of the company’s stock, valued at $4,602,861.72. This represents a 7.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Elastic Stock Down 4.6%

ESTC opened at $91.74 on Friday. The business’s 50-day simple moving average is $71.88 and its 200-day simple moving average is $60.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.68 and a current ratio of 1.81. Elastic N.V. has a one year low of $42.05 and a one year high of $108.00. The stock has a market capitalization of $9.63 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 9.31 and a beta of 1.03.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ESTC shares. Royal Bank Of Canada lifted their target price on shares of Elastic from $70.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Zacks Research raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. William Blair assumed coverage on Elastic in a report on Friday, May 22nd. They set an “outperform” rating on the stock. Wolfe Research set a $55.00 price target on Elastic in a report on Friday, May 29th. Finally, DA Davidson upped their price objective on Elastic from $60.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.12.

Institutional Trading of Elastic

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi lifted its position in Elastic by 37.2% in the first quarter. Amundi now owns 296,604 shares of the company’s stock valued at $14,827,000 after purchasing an additional 80,441 shares during the period. California State Teachers Retirement System raised its stake in shares of Elastic by 21.8% during the 1st quarter. California State Teachers Retirement System now owns 104,579 shares of the company’s stock worth $5,228,000 after buying an additional 18,716 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Elastic by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock worth $130,124,000 after buying an additional 49,198 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in shares of Elastic by 9.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock valued at $97,654,000 after buying an additional 109,608 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Elastic by 15.6% during the fourth quarter. Legal & General Group Plc now owns 396,595 shares of the company’s stock worth $29,919,000 after acquiring an additional 53,523 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.