Elastic (NYSE:ESTC) CTO Sells $341,627.60 in Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 4,552 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $341,627.60. Following the sale, the chief technology officer owned 4,359,228 shares of the company’s stock, valued at $327,160,061.40. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Elastic Stock Performance

Shares of ESTC stock opened at $76.21 on Friday. The stock’s 50-day moving average price is $82.38 and its 200 day moving average price is $83.68. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $8.03 billion, a PE ratio of -73.99 and a beta of 0.97. Elastic N.V. has a 52-week low of $68.10 and a 52-week high of $118.84.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. The company had revenue of $423.48 million during the quarter, compared to analysts’ expectations of $418.27 million. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. As a group, equities research analysts forecast that Elastic N.V. will post -0.77 EPS for the current year.

Elastic declared that its board has authorized a share repurchase plan on Thursday, October 9th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on ESTC shares. Monness Crespi & Hardt downgraded shares of Elastic from a “buy” rating to a “neutral” rating in a research report on Friday, November 21st. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a report on Friday, October 10th. Mizuho lifted their price objective on Elastic from $100.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Cantor Fitzgerald dropped their target price on Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Finally, Stifel Nicolaus reduced their price target on Elastic from $134.00 to $108.00 and set a “buy” rating for the company in a report on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.25.

Institutional Investors Weigh In On Elastic

A number of hedge funds and other institutional investors have recently modified their holdings of ESTC. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic in the 2nd quarter worth approximately $31,000. Huntington National Bank boosted its position in Elastic by 97.5% during the second quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 231 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Elastic by 53.7% during the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after purchasing an additional 152 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Elastic in the second quarter valued at $40,000. Finally, Promus Capital LLC purchased a new position in shares of Elastic in the second quarter valued at $45,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.