Insider Selling: Elastic (NYSE:ESTC) Insider Sells 4,310 Shares of Stock

Elastic N.V. (NYSE:ESTC) insider Ken Exner sold 4,310 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $225,326.80. Following the sale, the insider directly owned 222,728 shares of the company’s stock, valued at $11,644,219.84. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Elastic Trading Down 2.8%

Shares of ESTC traded down $1.48 during trading on Tuesday, reaching $51.77. 1,967,411 shares of the company traded hands, compared to its average volume of 2,680,223. Elastic N.V. has a twelve month low of $49.90 and a twelve month high of $103.79. The stock has a market cap of $5.36 billion, a PE ratio of -64.71, a price-to-earnings-growth ratio of 68.42 and a beta of 0.98. The stock has a 50-day simple moving average of $65.01 and a 200-day simple moving average of $76.63. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. The business 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 quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. On average, analysts anticipate that Elastic N.V. will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ESTC. Oppenheimer cut their price objective on Elastic from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Stifel Nicolaus reduced their price target on Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Citigroup reduced their price target on Elastic from $115.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Piper Sandler lowered their price objective on Elastic from $110.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Finally, Wells Fargo & Company cut their target price on shares of Elastic from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and a consensus target price of $95.25.

Institutional Trading of Elastic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESTC. Sound Income Strategies LLC purchased a new stake in shares of Elastic in the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. acquired a new position in Elastic during the second quarter worth approximately $31,000. Huntington National Bank lifted its stake in Elastic by 97.5% in the second quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 231 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of Elastic by 3,181.3% in the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after acquiring an additional 509 shares during the period. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock worth $42,000 after acquiring an additional 371 shares during the last quarter. Institutional investors and hedge funds 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.