Navam Welihinda Sells 8,961 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) CFO Navam Welihinda sold 8,961 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total transaction of $786,596.58. Following the completion of the transaction, the chief financial officer owned 200,293 shares of the company’s stock, valued at approximately $17,581,719.54. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Stock Down 0.0%

ESTC stock opened at $83.44 on Friday. Elastic N.V. has a one year low of $42.05 and a one year high of $108.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81. The firm’s fifty day moving average is $74.79 and its 200 day moving average is $61.07. The firm has a market cap of $8.76 billion, a PE ratio of 23.37, a P/E/G ratio of 8.09 and a beta of 1.03.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s revenue was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, research analysts forecast that Elastic N.V. will post 0.56 EPS for the current year.

Institutional Trading of Elastic

A number of institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Elastic by 153.4% during the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after purchasing an additional 4,567,720 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Elastic by 43.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock valued at $324,550,000 after purchasing an additional 1,958,219 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Elastic by 5,082.4% in the 2nd quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock valued at $309,031,000 after purchasing an additional 5,315,115 shares in the last quarter. FIL Ltd boosted its stake in Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after purchasing an additional 977,578 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Elastic by 516.1% during the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock worth $131,356,000 after purchasing an additional 2,201,140 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on ESTC. Oppenheimer raised their price objective on Elastic from $100.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, August 28th. UBS Group upped their target price on Elastic from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Morgan Stanley increased their target price on Elastic from $66.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 28th. Rosenblatt Securities reissued a “buy” rating and issued a $83.00 price target on shares of Elastic in a research note on Wednesday, August 26th. Finally, Robert W. Baird boosted their price target on shares of Elastic from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.52.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic introduced Elasticsearch Vector Database, a serverless offering designed for large-scale vector search and artificial-intelligence applications. The product is intended to simplify deployment, support hundreds of billions of vectors and strengthen Elastic’s position in the growing AI-search market. Elastic Introduces Serverless Vector Database
• Positive Sentiment: Wedbush began coverage with an “outperform” rating and a $125 price target, implying substantial upside from the recent trading level. The recommendation reflects optimism about Elastic’s AI, search and cloud growth opportunities.
• Positive Sentiment: Short interest dropped 39% between mid-August and August 31 to 3.87 million shares, or roughly 4.2% of shares outstanding. Reduced bearish positioning and only 1.1 days of short-interest coverage could provide technical support and limit short-selling pressure.
• Neutral Sentiment: Elastic’s latest quarterly results were strong, with $0.70 in adjusted EPS versus the $0.58 consensus and revenue of $478.1 million versus $469.8 million expected. Revenue grew 15.2% year over year, and fiscal 2027 EPS guidance was set at $3.29 to $3.37; however, these results were reported previously and may already be reflected in the stock’s valuation.
• Negative Sentiment: Several executives, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CRO Mark Dodds and CAO Jane Bone, sold shares on September 9. The sales totaled about 54,888 shares and $4.8 million, but were made to cover tax withholding on vested equity awards, making them less concerning than discretionary selling.
• Negative Sentiment: Repeated insider selling following a strong rally could still weigh on sentiment, particularly as investors assess whether the company’s AI-driven growth can justify its elevated valuation.

Elastic Company Profile

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.