Elastic (NYSE:ESTC) CRO Mark Eugene Dodds Sells 18,439 Shares

Elastic N.V. (NYSE:ESTC) CRO Mark Eugene Dodds sold 18,439 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 value of $1,117,587.79. Following the completion of the transaction, the executive directly owned 298,211 shares in the company, valued at approximately $18,074,568.71. This represents a 5.82% 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 link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Price Performance

Elastic stock opened at $60.70 on Thursday. The firm has a market cap of $6.28 billion, a P/E ratio of 17.34, a P/E/G ratio of 20.25 and a beta of 1.00. The stock’s 50 day moving average is $52.39 and its 200 day moving average is $61.17. 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.

Elastic (NYSE:ESTC) last issued its 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. The business had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. 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, research analysts expect that Elastic N.V. will post 0.18 EPS for the current year.

Institutional Investors Weigh In On Elastic

Hedge funds and other institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC bought a new stake in shares of Elastic during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. bought a new stake in Elastic during the second quarter worth $31,000. Bessemer Group Inc. bought a new stake in Elastic during the first quarter worth $25,000. Activest Wealth Management grew its holdings in Elastic by 3,181.3% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after buying an additional 509 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings in Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock worth $42,000 after buying an additional 371 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group lowered their target price on Elastic from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 29th. Guggenheim lowered their target price on Elastic from $116.00 to $106.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. The Goldman Sachs Group assumed coverage on Elastic in a report on Tuesday, April 21st. They set a “neutral” rating and a $50.00 price objective for the company. Stifel Nicolaus set a $65.00 price objective on Elastic in a report on Friday, May 29th. Finally, Rosenblatt Securities restated a “buy” rating and set a $110.00 price objective on shares of Elastic in a report on Tuesday, May 26th. Eighteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.04.

Elastic News Roundup

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.

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.