Elastic (NYSE:ESTC) Stock: Insider Steven Schuurman Sells 1,500,000 Shares

Elastic N.V. (NYSE:ESTC) Director Steven Schuurman sold 1,500,000 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $90.13, for a total transaction of $135,195,000.00. Following the sale, the director directly owned 4,504,600 shares in the company, valued at $405,999,598. This trade represents a 24.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Elastic Trading Down 0.3%

ESTC traded down $0.25 during mid-day trading on Tuesday, reaching $94.66. The stock had a trading volume of 1,524,507 shares, compared to its average volume of 2,147,924. The firm’s fifty day simple moving average is $84.00 and its two-hundred day simple moving average is $65.13. The stock has a market capitalization of $9.94 billion, a P/E ratio of 26.51, a P/E/G ratio of 7.89 and a beta of 1.03. Elastic N.V. has a 52 week low of $42.05 and a 52 week 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.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.12. The firm had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. 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, equities analysts predict that Elastic N.V. will post 0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price objective on shares of Elastic in a research note on Wednesday, September 23rd. UBS Group upped their price target on shares of Elastic from $85.00 to $105.00 and gave the company a “buy” rating in a report on Friday, August 28th. Robert W. Baird upped their target price on shares of Elastic from $95.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Citigroup increased their target price on Elastic from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Finally, Bank of America boosted their price target on Elastic from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.52.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ESTC. Bessemer Group Inc. bought a new position in Elastic in the first quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC bought a new position in shares of Elastic in the first quarter valued at $28,000. Harbor Investment Advisory LLC acquired a new position in Elastic during the second quarter worth $42,000. Root Financial Partners LLC raised its position in Elastic by 2,976.7% during the first quarter. Root Financial Partners LLC now owns 923 shares of the company’s stock worth $46,000 after acquiring an additional 893 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Elastic in the first quarter valued at $79,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Company Profile

Elastic N.V. (NYSE: ESTC) develops search, observability and security software for organizations that need to collect, analyze and act on large volumes of data. Its platform helps users search structured and unstructured information, monitor applications and infrastructure, detect security threats and build artificial intelligence-powered experiences.

The company’s principal offerings include Elasticsearch, its distributed search and analytics engine; Kibana, a visualization and data exploration interface; and Elastic Cloud, a managed cloud service for deploying Elastic products.