Elastic (NYSE:ESTC) CFO Sells $786,596.58 in Stock

Elastic N.V. (NYSE:ESTC) CFO Navam Welihinda sold 8,961 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total value of $786,596.58. Following the sale, the chief financial officer directly owned 200,293 shares of the company’s stock, valued at $17,581,719.54. This trade represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Stock Down 3.6%

Shares of Elastic stock traded down $3.13 during trading on Thursday, hitting $83.45. 2,100,369 shares of the stock traded hands, compared to its average volume of 2,176,438. The stock has a market cap of $8.76 billion, a P/E ratio of 23.38, a PEG ratio of 8.56 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $108.00. The company has a fifty day moving average price of $73.76 and a two-hundred day moving average price of $60.74.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, August 27th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. The firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $469.75 million. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The firm’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company 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. Equities research analysts predict that Elastic N.V. will post 0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Elastic from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Zacks Research raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 28th. Stifel Nicolaus raised their target price on Elastic from $90.00 to $107.00 and gave the company a “buy” rating in a report on Friday, August 28th. Weiss Ratings raised Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Finally, Scotiabank upped their price target on Elastic from $58.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.12.

Institutional Trading of Elastic

Large investors have recently modified their holdings of the company. AQR Capital Management LLC grew its stake in Elastic by 153.4% in 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. Pictet Asset Management Holding SA raised its holdings in Elastic by 43.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after acquiring an additional 1,958,219 shares during the period. California State Teachers Retirement System lifted its position in Elastic by 5,082.4% during the 2nd quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock worth $309,031,000 after acquiring an additional 5,315,115 shares during the last quarter. FIL Ltd lifted its position in Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after acquiring an additional 977,578 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Elastic by 516.1% during the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after acquiring an additional 2,201,140 shares during the period. 97.03% of the stock is owned by institutional investors.

About Elastic

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.