Elastic (NYSE:ESTC) CRO Sells $1,117,587.79 in Stock

Elastic N.V. (NYSE:ESTC) CRO Mark Eugene Dodds sold 18,439 shares of Elastic stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,117,587.79. Following the transaction, the executive owned 298,211 shares of the company’s stock, valued at $18,074,568.71. The trade was a 5.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Up 0.2%

Elastic stock opened at $60.33 on Friday. Elastic N.V. has a 52 week low of $42.05 and a 52 week high of $96.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.82 and a current ratio of 1.68. The stock has a market capitalization of $6.27 billion, a P/E ratio of 17.24, a PEG ratio of 19.91 and a beta of 1.00. The stock has a 50-day simple moving average of $52.80 and a 200 day simple moving average of $61.10.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The business had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. During the same quarter last year, the company posted $0.47 earnings per share. Elastic’s quarterly revenue 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. Analysts expect that Elastic N.V. will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Elastic

A number of hedge funds and other institutional investors have recently made changes to their positions in ESTC. Sound Income Strategies LLC bought a new position in Elastic during the 4th quarter worth $25,000. Bessemer Group Inc. acquired a new position in Elastic during the first quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new position in Elastic during the second quarter valued at approximately $31,000. Activest Wealth Management raised its position in Elastic by 3,181.3% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after purchasing an additional 509 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its position in Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after purchasing an additional 371 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ESTC has been the subject of several research reports. Truist Financial cut their price objective on shares of Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Citigroup raised their price objective on shares of Elastic from $95.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Morgan Stanley cut their price objective on shares of Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. JPMorgan Chase & Co. cut their price objective on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Finally, TD Cowen cut their price objective on shares of Elastic from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, May 26th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $80.04.

Elastic Company Profile

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.