Elastic (NYSE:ESTC) CTO Sells $562,945.68 in Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 9,288 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $562,945.68. Following the transaction, the chief technology officer directly owned 4,417,140 shares in the company, valued at $267,722,855.40. This trade represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Stock Performance

Shares of ESTC traded down $0.56 during trading hours on Wednesday, reaching $60.70. 1,241,304 shares of the company’s stock traded hands, compared to its average volume of 2,103,974. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 86.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $96.07. The business’s fifty day simple moving average is $52.16 and its two-hundred day simple moving average is $61.33.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. Elastic had a negative return on equity of 2.02% and a net margin of 21.14%.The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Analysts predict that Elastic N.V. will post 0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in Elastic during the fourth quarter valued at about $25,000. Bessemer Group Inc. bought a new position in Elastic during the first quarter valued at about $25,000. Geneos Wealth Management Inc. bought a new position in Elastic during the second quarter valued at about $31,000. Activest Wealth Management boosted its stake in Elastic by 3,181.3% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after buying an additional 509 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its stake in Elastic by 206.1% during 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 in the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ESTC. Cantor Fitzgerald lowered their price target on Elastic from $66.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday, May 26th. William Blair began coverage on Elastic in a report on Friday, May 22nd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lowered their price target on Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. Truist Financial lowered their price target on Elastic from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Rothschild & Co Redburn started coverage on Elastic in a research note on Thursday, April 23rd. They set a “neutral” rating and a $49.00 target price for the company. Eighteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.04.

Key Stories 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.

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.