Navam Welihinda Sells 12,961 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) CFO Navam Welihinda sold 12,961 shares of Elastic stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $785,566.21. Following the sale, the chief financial officer owned 209,254 shares in the company, valued at approximately $12,682,884.94. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Down 0.9%

NYSE:ESTC opened at $60.25 on Friday. The firm’s 50 day simple moving average is $52.59 and its 200 day simple moving average is $61.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.82. Elastic N.V. has a one year low of $42.05 and a one year high of $96.07. The company has a market cap of $6.26 billion, a PE ratio of 17.22, a P/E/G ratio of 20.10 and a beta of 1.00.

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

Analysts Set New Price Targets

ESTC has been the subject of several analyst reports. Truist Financial lowered their price target on shares of Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 27th. Morgan Stanley lowered their price target on shares of Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Scotiabank lowered their price target on shares of Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a report on Friday, May 29th. Rothschild & Co Redburn initiated coverage on shares of Elastic in a report on Thursday, April 23rd. They set a “neutral” rating and a $49.00 price target for the company. Finally, Guggenheim lowered their price target on shares of Elastic from $116.00 to $106.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Eighteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.04.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic’s presentation at Rosenblatt’s 6th Annual Age of AI Technology Summit kept its AI-related growth narrative in focus, which may help support sentiment around the company’s product momentum and long-term opportunity. Elastic N.V. Presents at Rosenblatt 6th Annual Age of AI Technology Summit Transcript
• Neutral Sentiment: Elastic reported a strong latest quarter, beating EPS and revenue expectations and raising forward guidance, which continues to provide a fundamental backdrop for the stock.
• Neutral Sentiment: Institutional ownership remains high, suggesting continued support from large investors despite recent volatility.
• Negative Sentiment: Multiple top insiders, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CTO Shay Banon, CRO Mark Eugene Dodds, CAO Jane Bone, and other executives, sold shares on June 9. The company says these were tied to tax withholding on equity vesting, but the size and breadth of the sales can still weigh on investor sentiment. Elastic Insider Buying and Selling Alert
• Negative Sentiment: Elastic also disclosed a new risk around regulatory hurdles and budget pressures in government contracting, which could make public-sector revenue less predictable if procurement slows or spending tightens. Government Contract Risks Cloud Elastic Revenue Outlook

Institutional Trading of Elastic

Hedge funds and other institutional investors have recently bought and sold shares of the business. J. Safra Sarasin Holding AG increased its stake in Elastic by 43.0% during 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 in the last quarter. Cinctive Capital Management LP bought a new stake in Elastic during the 3rd quarter valued at $13,608,000. Thematics Asset Management increased its stake in Elastic by 10.2% during 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Elastic by 50.8% during 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 in the last quarter. Finally, Citigroup Inc. increased its stake in Elastic by 89.0% during the 3rd quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock valued at $7,550,000 after purchasing an additional 42,087 shares in the last quarter. 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.