Insider Selling: Elastic (NYSE:ESTC) CTO Sells 4,283 Shares of Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 4,283 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $223,915.24. Following the sale, the chief technology officer directly owned 4,354,945 shares in the company, valued at approximately $227,676,524.60. This represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Elastic Stock Performance

Shares of ESTC traded down $1.48 during trading hours on Tuesday, reaching $51.77. 1,967,411 shares of the company traded hands, compared to its average volume of 2,680,223. The stock has a market capitalization of $5.36 billion, a P/E ratio of -64.71, a P/E/G ratio of 68.42 and a beta of 0.98. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average price of $65.01 and a 200-day moving average price of $76.63. Elastic N.V. has a 12-month low of $49.90 and a 12-month high of $103.79.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The firm had revenue of $449.88 million during the quarter, compared to analysts’ expectations of $438.37 million. During the same period last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. Equities analysts anticipate that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Elastic

Hedge funds and other institutional investors have recently made changes to their positions in the company. AXQ Capital LP purchased a new position in Elastic in the 2nd quarter valued at $419,000. Geode Capital Management LLC lifted its stake in shares of Elastic by 3.6% in the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock worth $132,384,000 after buying an additional 54,812 shares in the last quarter. Mackenzie Financial Corp boosted its position in Elastic by 622.2% during the second quarter. Mackenzie Financial Corp now owns 77,005 shares of the company’s stock worth $6,494,000 after acquiring an additional 66,342 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Elastic by 102.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 464,268 shares of the company’s stock valued at $39,152,000 after acquiring an additional 234,735 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in Elastic by 89.0% in the 3rd quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock valued at $7,550,000 after acquiring an additional 42,087 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ESTC. Scotiabank decreased their price objective on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a report on Friday, November 21st. DA Davidson dropped their price target on shares of Elastic from $80.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, March 2nd. Oppenheimer cut their price target on Elastic from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Bank of America lowered their price target on Elastic from $111.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Finally, Truist Financial reduced their target price on Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Seventeen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.25.

About Elastic

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.