Jane Bone Sells 1,104 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) CAO Jane Bone sold 1,104 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $66,913.44. Following the completion of the sale, the chief accounting officer directly owned 53,415 shares in the company, valued at approximately $3,237,483.15. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Price Performance

Shares of ESTC stock opened at $60.25 on Friday. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 20.10 and a beta of 1.00. The business’s fifty day moving average is $52.59 and its 200 day moving average is $61.10. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $96.07. The company has a quick ratio of 1.82, a current ratio of 1.68 and a debt-to-equity ratio of 0.45.

Elastic (NYSE:ESTC) last released 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 firm 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 was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. Research analysts expect that Elastic N.V. will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ESTC shares. Morgan Stanley lowered their target price 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. DA Davidson lowered their target price on shares of Elastic from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 29th. UBS Group reiterated a “buy” rating and set a $85.00 target price on shares of Elastic in a report on Friday, May 29th. Zacks Research lowered shares of Elastic from a “hold” rating to a “strong sell” rating in a report on Thursday, May 28th. Finally, Canaccord Genuity Group lowered their target price on shares of Elastic from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 29th. Eighteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.04.

Key Stories Impacting Elastic

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

Hedge Funds Weigh In On Elastic

A number of hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in shares of Elastic during the 4th quarter valued at $25,000. Geneos Wealth Management Inc. bought a new position in Elastic in the 2nd quarter worth $31,000. Bessemer Group Inc. bought a new position in Elastic in the 1st quarter worth $25,000. Activest Wealth Management boosted its holdings in Elastic by 3,181.3% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after buying an additional 509 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its holdings in Elastic by 206.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock worth $42,000 after buying an additional 371 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.