Elastic (NYSE:ESTC) CTO Shay Banon Sells 9,288 Shares

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 9,288 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $562,945.68. Following the sale, the chief technology officer owned 4,417,140 shares of the company’s stock, valued at $267,722,855.40. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Down 0.9%

Shares of NYSE ESTC opened at $60.70 on Thursday. Elastic N.V. has a one year low of $42.05 and a one year high of $96.07. The firm has a market capitalization of $6.28 billion, a PE ratio of 17.34, a PEG ratio of 20.25 and a beta of 1.00. The company has a current ratio of 1.68, a quick ratio of 1.82 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $52.39 and a two-hundred day moving average price of $61.17.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. During the same period last year, the business earned $0.47 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. 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, analysts predict that Elastic N.V. will post 0.18 earnings per share for the current fiscal year.

Key Headlines Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic presented at Rosenblatt’s 6th Annual Age of AI Technology Summit, keeping the company’s AI-related product story and growth narrative in focus for investors. Elastic N.V. Presents at Rosenblatt 6th Annual Age of AI Technology Summit Transcript
• Neutral Sentiment: Elastic disclosed that several top executives, including the CEO, CFO, CTO, CAO and CRO, sold shares on June 9. The company said the sales were tied to tax withholding from equity vesting, but the size of the transactions may still weigh on sentiment. Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni Sells 40,373 Shares
• Neutral Sentiment: Elastic also highlighted a new risk around regulatory hurdles and budget pressures in government contracting, which could make revenue from public-sector customers less predictable if spending slows or procurement becomes more complicated. Regulatory Hurdles and Budget Pressures: Government Contract Risks Cloud Elastic N.V.’s Revenue Outlook
• Negative Sentiment: The heaviest drag on ESTC today is likely the cluster of insider sales, which can be read as a cautious signal by investors despite management saying the trades were routine tax-related transactions.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup lifted their price target on Elastic from $95.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. William Blair began coverage on Elastic in a research note on Friday, May 22nd. They issued an “outperform” rating on the stock. Wedbush reduced their price objective on Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Truist Financial reduced their price objective on Elastic from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Zacks Research cut Elastic from a “hold” rating to a “strong sell” rating in a report on Thursday, May 28th. Eighteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.04.

Hedge Funds Weigh In On Elastic

Several hedge funds have recently added to or reduced their stakes in ESTC. AQR Capital Management LLC lifted its stake 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 period. First Trust Advisors LP grew its holdings in shares of Elastic by 516.1% during the first 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 in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Elastic by 43.2% during the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after buying an additional 1,958,219 shares in the last quarter. FIL Ltd grew its stake 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 purchasing an additional 977,578 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its stake 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 purchasing an additional 924,911 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.