Stock Traders Purchase High Volume of Elastic Call Options (NYSE:ESTC)

Elastic N.V. (NYSE:ESTC) was the target of some unusual options trading activity on Thursday. Stock investors acquired 4,904 call options on the company. This is an increase of approximately 130% compared to the typical volume of 2,131 call options.

Elastic Trading Up 2.9%

NYSE:ESTC traded up $1.44 during mid-day trading on Thursday, hitting $51.38. The company had a trading volume of 424,131 shares, compared to its average volume of 2,166,446. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 1.82. Elastic has a fifty-two week low of $48.71 and a fifty-two week high of $98.25. The firm has a market cap of $5.32 billion, a P/E ratio of -63.80, a P/E/G ratio of 63.82 and a beta of 0.98. The business’s fifty day moving average is $60.01 and its two-hundred day moving average is $74.28.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. The company had revenue of $449.88 million during the quarter, compared to analyst estimates of $438.37 million. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, research analysts expect that Elastic will post -0.77 earnings per share for the current year.

Insider Transactions at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 3,723 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $194,638.44. Following the transaction, the executive owned 152,563 shares of the company’s stock, valued at approximately $7,975,993.64. This represents a 2.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carolyn Herzog sold 3,989 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $208,544.92. Following the completion of the transaction, the insider owned 85,335 shares in the company, valued at $4,461,313.80. The trade was a 4.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,375 shares of company stock worth $2,091,797 over the last ninety days. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elastic

Several large investors have recently bought and sold shares of the company. Corient Private Wealth LLC boosted its position in shares of Elastic by 148.2% during the fourth quarter. Corient Private Wealth LLC now owns 9,979 shares of the company’s stock worth $753,000 after purchasing an additional 5,958 shares in the last quarter. Redwood Family Wealth LLC bought a new stake in shares of Elastic in the 4th quarter valued at $248,000. Pacer Advisors Inc. increased its position in shares of Elastic by 80.9% in the 4th quarter. Pacer Advisors Inc. now owns 10,539 shares of the company’s stock valued at $795,000 after buying an additional 4,714 shares in the last quarter. Kera Capital Partners Inc. raised its stake in Elastic by 129.8% during the 4th quarter. Kera Capital Partners Inc. now owns 10,482 shares of the company’s stock worth $791,000 after buying an additional 5,920 shares during the period. Finally, Invesco Ltd. lifted its holdings in Elastic by 17.6% during the fourth quarter. Invesco Ltd. now owns 128,844 shares of the company’s stock worth $9,720,000 after acquiring an additional 19,304 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ESTC. Weiss Ratings reiterated a “sell (d)” rating on shares of Elastic in a research report on Wednesday, January 21st. Canaccord Genuity Group reduced their target price on shares of Elastic from $115.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Barclays lowered their price target on shares of Elastic from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. TD Cowen reissued a “hold” rating on shares of Elastic in a research note on Monday, February 23rd. Finally, Oppenheimer cut their price objective on shares of Elastic from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Seventeen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.25.

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.