Insider Selling: Elastic (NYSE:ESTC) Insider Sells 6,544 Shares of Stock

Elastic N.V. (NYSE:ESTC) insider Ken Exner sold 6,544 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 $491,127.20. Following the sale, the insider owned 227,038 shares in the company, valued at approximately $17,039,201.90. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Elastic Stock Performance

ESTC traded up $4.14 during trading on Wednesday, reaching $78.83. 2,207,160 shares of the company were exchanged, compared to its average volume of 1,786,393. Elastic N.V. has a 52 week low of $68.10 and a 52 week high of $118.84. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average of $82.89 and a 200 day moving average of $83.86. The stock has a market cap of $8.31 billion, a P/E ratio of -76.54 and a beta of 0.97.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The company had revenue of $423.48 million for 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 quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, sell-side analysts forecast that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Elastic declared that its board has approved a stock repurchase program on Thursday, October 9th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on ESTC. Scotiabank reduced their price objective on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a research report on Friday, November 21st. Wells Fargo & Company reduced their price target on Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, November 21st. Bank of America decreased their price target on Elastic from $111.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a report on Friday, October 10th. Finally, UBS Group decreased their target price on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.25.

Institutional Investors Weigh In On Elastic

Several hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new position in Elastic in the 2nd quarter worth approximately $31,000. Huntington National Bank raised its position in Elastic by 97.5% during the second quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 231 shares during the period. Smartleaf Asset Management LLC boosted its position in Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after acquiring an additional 152 shares during the period. Plato Investment Management Ltd acquired a new stake in Elastic during the 2nd quarter worth about $40,000. Finally, Promus Capital LLC purchased a new position in Elastic during the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

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.