Elastic (NYSE:ESTC) Stock: Insider Steven Schuurman Sells 2,000,000 Shares

Elastic N.V. (NYSE:ESTC) Director Steven Schuurman sold 2,000,000 shares of the company’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $94.15, for a total value of $188,300,000.00. Following the completion of the transaction, the director owned 2,504,600 shares of the company’s stock, valued at approximately $235,808,090. This represents a 44.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Steven Schuurman also recently made the following trade(s):

• On Monday, October 5th, Steven Schuurman sold 1,500,000 shares of Elastic stock. The stock was sold at an average price of $90.13, for a total transaction of $135,195,000.00.

Elastic Stock Performance

Shares of ESTC stock opened at $91.87 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The company’s fifty day moving average price is $87.94 and its two-hundred day moving average price is $67.21. The firm has a market capitalization of $9.65 billion, a P/E ratio of 25.73, a P/E/G ratio of 7.92 and a beta of 1.03. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $108.00.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.12. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, research analysts anticipate that Elastic N.V. will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Elastic

Institutional investors and hedge funds have recently bought and sold shares of the company. Pictet Asset Management Holding SA boosted its holdings in shares of Elastic by 43.2% in 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 period. First Trust Advisors LP grew its stake in Elastic by 516.1% during the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock worth $131,356,000 after buying an additional 2,201,140 shares during the last quarter. Temasek Holdings Private Ltd grew its stake in Elastic by 9.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock worth $97,654,000 after buying an additional 109,608 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Elastic by 12.5% during the 4th quarter. Panagora Asset Management Inc. now owns 1,031,378 shares of the company’s stock worth $77,807,000 after buying an additional 114,965 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Elastic by 0.6% in the second quarter. Assenagon Asset Management S.A. now owns 905,241 shares of the company’s stock worth $51,617,000 after buying an additional 5,224 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ESTC shares. Morgan Stanley raised their price objective on Elastic from $66.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, October 9th. JPMorgan Chase & Co. upped their target price on Elastic from $93.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Royal Bank Of Canada increased their target price on Elastic from $70.00 to $87.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $83.00 target price on shares of Elastic in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.92.

About Elastic

Elastic N.V. (NYSE: ESTC) develops search, observability and security software for organizations that need to collect, analyze and act on large volumes of data. Its platform helps users search structured and unstructured information, monitor applications and infrastructure, detect security threats and build artificial intelligence-powered experiences.

The company’s principal offerings include Elasticsearch, its distributed search and analytics engine; Kibana, a visualization and data exploration interface; and Elastic Cloud, a managed cloud service for deploying Elastic products.