Jane Bone Sells 1,542 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) CAO Jane Bone sold 1,542 shares of Elastic stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total value of $135,356.76. Following the completion of the sale, the chief accounting officer owned 47,697 shares in the company, valued at $4,186,842.66. This represents a 3.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Down 3.6%

Shares of NYSE ESTC traded down $3.13 during mid-day trading on Thursday, reaching $83.45. 2,100,369 shares of the company’s stock were exchanged, compared to its average volume of 2,176,438. The firm has a market capitalization of $8.76 billion, a price-to-earnings 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 52-week low of $42.05 and a 52-week high of $108.00. The company’s 50-day moving average is $73.76 and its 200-day moving average is $60.74.

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

Institutional Trading of Elastic

Several hedge funds have recently made changes to their positions in ESTC. Orion Porfolio Solutions LLC boosted its stake in shares of Elastic by 1.4% in the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after purchasing an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Elastic by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after purchasing an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Elastic by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after buying an additional 175 shares during the period. California State Teachers Retirement System lifted its holdings in Elastic by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after buying an additional 219 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in Elastic by 4.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock worth $344,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ESTC. Wedbush reduced their price target on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Wall Street Zen cut shares of Elastic from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Bank of America lifted their target price on shares of Elastic from $90.00 to $108.00 and gave the company a “neutral” 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, Oppenheimer upped their price target on Elastic from $100.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, Elastic has a consensus rating of “Moderate Buy” and a consensus price target of $94.12.

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.