Insider Selling: Elastic (NYSE:ESTC) CTO Sells $562,945.68 in Stock

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 shares were sold at an average price of $60.61, for a total transaction of $562,945.68. Following the transaction, the chief technology officer directly owned 4,417,140 shares in the company, valued at $267,722,855.40. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Up 0.2%

NYSE ESTC opened at $60.33 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.82 and a current ratio of 1.68. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 19.91 and a beta of 1.00. The company’s 50-day simple moving average is $52.80 and its two-hundred day simple moving average is $61.10. Elastic N.V. has a one year low of $42.05 and a one year high of $96.07.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ESTC. Canaccord Genuity Group cut their price objective on shares of Elastic from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. TD Cowen cut their price objective on shares of Elastic from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. Cantor Fitzgerald cut their price objective on shares of Elastic from $66.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Guggenheim cut their price objective on shares of Elastic from $116.00 to $106.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Weiss Ratings raised shares of Elastic from a “sell (e+)” rating to a “sell (d+)” rating in a research report on Tuesday. Eighteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orion Porfolio Solutions LLC grew its position in shares of Elastic by 1.4% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock worth $726,000 after buying an additional 118 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after purchasing an additional 171 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Elastic by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after purchasing an additional 175 shares during the last quarter. Jones Financial Companies Lllp grew its position in Elastic by 6.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,020 shares of the company’s stock worth $260,000 after purchasing an additional 194 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in Elastic by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after purchasing an additional 219 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.