Elastic (NYSE:ESTC) Director Sells $188,300,000.00 in Stock

Elastic N.V. (NYSE:ESTC) Director Steven Schuurman sold 2,000,000 shares of the company’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $94.15, for a total value of $188,300,000.00. Following the sale, the director owned 2,504,600 shares of the company’s stock, valued at $235,808,090. This represents a 44.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Steven Schuurman also recently made the following trade(s):

• On Monday, October 5th, Steven Schuurman sold 1,500,000 shares of Elastic stock. The stock was sold at an average price of $90.13, for a total transaction of $135,195,000.00.

Elastic Price Performance

Elastic stock opened at $97.38 on Friday. The firm has a fifty day moving average of $88.49 and a 200-day moving average of $67.56. Elastic N.V. has a 52-week low of $42.05 and a 52-week high of $108.00. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $10.22 billion, a P/E ratio of 27.28, a PEG ratio of 7.73 and a beta of 1.03.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $469.75 million. During the same quarter in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, analysts predict that Elastic N.V. will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ESTC. Curated Wealth Partners LLC bought a new position in Elastic during the 3rd quarter valued at $304,000. Fortitude Family Office LLC raised its stake in shares of Elastic by 303.7% in the 3rd quarter. Fortitude Family Office LLC now owns 650 shares of the company’s stock valued at $60,000 after purchasing an additional 489 shares in the last quarter. Catalyst Private Wealth LLC acquired a new stake in shares of Elastic in the 3rd quarter valued at about $204,000. NorthCrest Asset Manangement LLC raised its stake in shares of Elastic by 80.0% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 6,625 shares of the company’s stock valued at $631,000 after purchasing an additional 2,944 shares in the last quarter. Finally, Kaizen Financial Strategies bought a new position in shares of Elastic during the third quarter worth about $268,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Monness Crespi & Hardt raised Elastic from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Friday, October 9th. Bank of America raised their target price on Elastic from $90.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, August 28th. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price target on shares of Elastic in a research report on Wednesday, September 23rd. Jefferies Financial Group boosted their price target on Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Finally, Barclays upped their price target on Elastic from $68.00 to $94.00 and gave the stock an “overweight” rating in a report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.92.

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.