Insider Selling: Elastic (NYSE:ESTC) CAO Sells 2,408 Shares of Stock

Elastic N.V. (NYSE:ESTC) CAO Jane Bone sold 2,408 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $180,720.40. Following the transaction, the chief accounting officer directly owned 44,358 shares in the company, valued at approximately $3,329,067.90. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Elastic Price Performance

Shares of ESTC stock traded up $4.14 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 1 year low of $68.10 and a 1 year high of $118.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. The business has a 50-day moving average price of $82.89 and a 200 day moving average price of $83.86. The company has a market cap of $8.31 billion, a price-to-earnings ratio of -76.54 and a beta of 0.97.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.06. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The company had revenue of $423.48 million for the quarter, compared to analysts’ expectations of $418.27 million. During the same period in the previous year, the firm posted $0.59 EPS. Elastic’s revenue was up 15.9% compared to the same quarter last year. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. Equities research analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Elastic announced that its Board of Directors has initiated a share buyback program on Thursday, October 9th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Elastic

Hedge funds and other institutional investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC lifted its position in Elastic by 1.4% in the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after buying an additional 118 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Elastic by 53.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock valued at $40,000 after acquiring an additional 152 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after acquiring an additional 171 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of 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 period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Elastic by 5.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,997 shares of the company’s stock worth $337,000 after purchasing an additional 194 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Jefferies Financial Group decreased their price objective on Elastic from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Morgan Stanley decreased their price target on shares of Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. Canaccord Genuity Group dropped their price objective on shares of Elastic from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. DA Davidson decreased their target price on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. dropped their price target on Elastic from $120.00 to $113.00 and set an “overweight” 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.25.

About Elastic

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.