Elastic (NYSE:ESTC) CFO Sells $785,566.21 in Stock

Elastic N.V. (NYSE:ESTC) CFO Navam Welihinda sold 12,961 shares of Elastic stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $785,566.21. Following the sale, the chief financial officer directly owned 209,254 shares of the company’s stock, valued at approximately $12,682,884.94. This represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Stock Performance

ESTC traded down $0.56 on Wednesday, reaching $60.70. 1,241,304 shares of the stock were exchanged, compared to its average volume of 2,103,974. The company’s 50-day moving average price is $52.16 and its 200 day moving average price is $61.33. Elastic N.V. has a fifty-two week low of $42.05 and a fifty-two week high of $96.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market capitalization of $6.28 billion, a PE ratio of 17.34, a PEG ratio of 86.23 and a beta of 1.00.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. Elastic had a negative return on equity of 2.02% and a net margin of 21.14%.The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. As a group, sell-side analysts forecast that Elastic N.V. will post 0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of analyst reports. Truist Financial reduced their price target on Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 27th. The Goldman Sachs Group initiated coverage on Elastic in a research note on Tuesday, April 21st. They set a “neutral” rating and a $50.00 price objective for the company. William Blair initiated coverage on Elastic in a research report on Friday, May 22nd. They issued an “outperform” rating for the company. Rothschild & Co Redburn initiated coverage on Elastic in a research report on Thursday, April 23rd. They issued a “neutral” rating and a $49.00 price objective for the company. Finally, Royal Bank Of Canada lowered their price objective on Elastic from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Eighteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.04.

More Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: No clear positive company-specific catalyst was disclosed in the latest headlines.
• Neutral Sentiment: Several executives and insiders, including the CEO, CFO, CTO, CRO, CAO, and another insider, sold shares on June 9 at $60.61. The company said the transactions were made to cover tax withholding obligations tied to vesting equity awards, which makes them less concerning than open-market selling, but the large number of sales can still weigh on investor sentiment. Article
• Neutral Sentiment: Elastic also disclosed a new sales and marketing risk related to regulatory hurdles and budget pressures in government contracts, suggesting potential headwinds for revenue from public-sector customers. Article
• Negative Sentiment: The cluster of insider sales, especially the CEO’s and CFO’s larger transactions, may be read by investors as a cautious signal even though the company framed them as tax-related rather than discretionary selling.

Hedge Funds Weigh In On Elastic

Several large investors have recently bought and sold shares of ESTC. AQR Capital Management LLC increased its holdings in Elastic by 153.4% in the fourth 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. First Trust Advisors LP increased its holdings in Elastic by 516.1% in the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after buying an additional 2,201,140 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Elastic by 43.2% in the first 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 last quarter. FIL Ltd increased its holdings in Elastic by 36.9% in the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after buying an additional 977,578 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in Elastic by 490.4% in the third quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock valued at $94,080,000 after buying an additional 924,911 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.