Jane Bone Sells 1,542 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) CAO Jane Bone sold 1,542 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total transaction of $135,356.76. Following the completion of the sale, the chief accounting officer directly owned 47,697 shares of the company’s stock, valued at approximately $4,186,842.66. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Price Performance

NYSE ESTC opened at $83.44 on Friday. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $108.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a market capitalization of $8.76 billion, a PE ratio of 23.37, a P/E/G ratio of 8.09 and a beta of 1.03. The company’s 50 day simple moving average is $74.79 and its 200 day simple moving average is $61.07.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. The firm had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, equities research analysts forecast that Elastic N.V. will post 0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ESTC. Barclays boosted their price target on shares of Elastic from $68.00 to $94.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Royal Bank Of Canada raised their target price on shares of Elastic from $70.00 to $87.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Wells Fargo & Company raised their price objective on Elastic from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 25th. Oppenheimer boosted their target price on Elastic from $100.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Finally, Wedbush began coverage on Elastic in a report on Friday. They set an “outperform” rating and a $125.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and a consensus target price of $96.52.

Key Stories Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic introduced Elasticsearch Vector Database, a serverless offering designed for large-scale vector search and artificial-intelligence applications. The product is intended to simplify deployment, support hundreds of billions of vectors and strengthen Elastic’s position in the growing AI-search market. Elastic Introduces Serverless Vector Database
• Positive Sentiment: Wedbush began coverage with an “outperform” rating and a $125 price target, implying substantial upside from the recent trading level. The recommendation reflects optimism about Elastic’s AI, search and cloud growth opportunities.
• Positive Sentiment: Short interest dropped 39% between mid-August and August 31 to 3.87 million shares, or roughly 4.2% of shares outstanding. Reduced bearish positioning and only 1.1 days of short-interest coverage could provide technical support and limit short-selling pressure.
• Neutral Sentiment: Elastic’s latest quarterly results were strong, with $0.70 in adjusted EPS versus the $0.58 consensus and revenue of $478.1 million versus $469.8 million expected. Revenue grew 15.2% year over year, and fiscal 2027 EPS guidance was set at $3.29 to $3.37; however, these results were reported previously and may already be reflected in the stock’s valuation.
• Negative Sentiment: Several executives, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CRO Mark Dodds and CAO Jane Bone, sold shares on September 9. The sales totaled about 54,888 shares and $4.8 million, but were made to cover tax withholding on vested equity awards, making them less concerning than discretionary selling.
• Negative Sentiment: Repeated insider selling following a strong rally could still weigh on sentiment, particularly as investors assess whether the company’s AI-driven growth can justify its elevated valuation.

Institutional Investors Weigh In On Elastic

Large investors have recently made changes to their positions in the company. Orion Porfolio Solutions LLC boosted its stake in 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 purchasing an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after purchasing an additional 171 shares during the period. Public Employees Retirement System of Ohio raised its stake 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 valued at $2,393,000 after purchasing an additional 175 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Elastic by 0.3% in the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after purchasing an additional 219 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Elastic by 4.6% in the second quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock valued at $344,000 after purchasing an additional 263 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Company Profile

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.