Shay Banon Sells 9,288 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 9,288 shares of Elastic stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $562,945.68. Following the sale, the chief technology officer owned 4,417,140 shares of the company’s stock, valued at $267,722,855.40. The trade was a 0.21% decrease in their position. The sale was disclosed in a filing 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 Trading Down 0.9%

Shares of ESTC opened at $60.25 on Friday. Elastic N.V. has a 1-year low of $42.05 and a 1-year high of $96.07. The company has a 50-day moving average of $52.59 and a 200 day moving average of $61.10. The firm has a market capitalization 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 company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.82.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The company had revenue of $450.68 million during the quarter, compared to analyst estimates of $446.66 million. During the same quarter last year, the business posted $0.47 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, research analysts expect that Elastic N.V. will post 0.18 EPS for the current year.

Key Elastic News

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

Wall Street Analysts Forecast Growth

ESTC has been the subject of several recent research reports. Morgan Stanley reduced their price target 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. UBS Group restated a “buy” rating and issued a $85.00 price target on shares of Elastic in a report on Friday, May 29th. DA Davidson reduced their price target 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. Canaccord Genuity Group reduced their price target 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. Finally, Rosenblatt Securities restated a “buy” rating and issued a $110.00 price target on shares of Elastic in a report on Tuesday, May 26th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.04.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ESTC. Focus Partners Wealth bought a new position in shares of Elastic during the 1st quarter worth approximately $494,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Elastic by 17.3% during 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 in the last quarter. Invesco Ltd. raised its stake in shares of Elastic by 11.7% during the 2nd quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock worth $8,039,000 after acquiring an additional 9,990 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Elastic by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock worth $178,000 after acquiring an additional 1,688 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Elastic by 24.7% during the 2nd quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock worth $2,576,000 after acquiring an additional 6,056 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

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.