Elastic (NYSE:ESTC) Insider Sells $1,118,193.89 in Stock

Elastic N.V. (NYSE:ESTC) insider Ken Exner sold 18,449 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,118,193.89. Following the completion of the transaction, the insider directly owned 360,037 shares in the company, valued at $21,821,842.57. The trade was a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Stock Up 0.2%

NYSE:ESTC opened at $60.33 on Friday. The stock’s fifty day moving average price is $52.80 and its two-hundred day moving average price is $61.10. Elastic N.V. has a 52-week low of $42.05 and a 52-week high of $96.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.82 and a current ratio of 1.68. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 19.91 and a beta of 1.00.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same quarter in the prior year, the business earned $0.47 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, analysts anticipate that Elastic N.V. will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. J. Safra Sarasin Holding AG lifted its stake in shares of Elastic by 43.0% in the 4th quarter. J. Safra Sarasin Holding AG now owns 189,138 shares of the company’s stock valued at $14,269,000 after purchasing an additional 56,892 shares during the period. Cinctive Capital Management LP acquired a new position in shares of Elastic in the 3rd quarter valued at $13,608,000. Thematics Asset Management lifted its stake in shares of Elastic by 10.2% in the 3rd quarter. Thematics Asset Management now owns 523,283 shares of the company’s stock valued at $44,212,000 after purchasing an additional 48,346 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Elastic by 50.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,279 shares of the company’s stock valued at $75,304,000 after purchasing an additional 300,264 shares during the period. Finally, Citigroup Inc. increased its position in shares of Elastic by 89.0% in the 3rd quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock valued at $7,550,000 after buying an additional 42,087 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Canaccord Genuity Group reduced their price objective on Elastic from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, May 29th. Oppenheimer reduced their price objective on Elastic from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Jefferies Financial Group reduced their price objective on Elastic from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, May 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $110.00 price objective on shares of Elastic in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada reduced their price objective on Elastic from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.04.

Elastic Company Profile

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.