Elastic (NYSE:ESTC) CFO Sells $77,937.46 in Stock

Elastic N.V. (NYSE:ESTC) CFO Navam Welihinda sold 1,046 shares of Elastic stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $74.51, for a total value of $77,937.46. Following the completion of the transaction, the chief financial officer directly owned 123,874 shares in the company, valued at approximately $9,229,851.74. This represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Navam Welihinda also recently made the following trade(s):

• On Tuesday, December 9th, Navam Welihinda sold 4,327 shares of Elastic stock. The stock was sold at an average price of $75.05, for a total transaction of $324,741.35.
• On Monday, October 6th, Navam Welihinda sold 1,256 shares of Elastic stock. The stock was sold at an average price of $84.58, for a total transaction of $106,232.48.

Elastic Trading Up 0.5%

Shares of ESTC traded up $0.38 during trading hours on Thursday, hitting $79.25. 1,573,996 shares of the stock were exchanged, compared to its average volume of 1,785,496. Elastic N.V. has a fifty-two week low of $68.10 and a fifty-two week high of $118.84. The business has a 50-day moving average of $82.74 and a 200-day moving average of $83.82. The firm has a market capitalization of $8.35 billion, a P/E ratio of -76.94 and a beta of 0.97. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.06. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. The business had revenue of $423.48 million for the quarter, compared to analyst estimates of $418.27 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. Elastic’s revenue for the quarter was up 15.9% on a year-over-year basis. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, research analysts expect that Elastic N.V. will post -0.77 EPS for the current year.

Elastic announced that its board has approved a stock repurchase program on Thursday, October 9th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Elastic

A number of large investors have recently modified their holdings of ESTC. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the 2nd quarter valued at $31,000. Smartleaf Asset Management LLC boosted its position in Elastic by 53.7% during the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock valued at $40,000 after buying an additional 152 shares during the period. Huntington National Bank grew its stake in shares of Elastic by 97.5% during the second quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 231 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Elastic in the second quarter worth about $40,000. Finally, Promus Capital LLC purchased a new position in shares of Elastic in the second quarter worth about $45,000. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ESTC has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. Scotiabank dropped their target price on shares of Elastic from $90.00 to $76.00 and set a “sector perform” rating on the stock in a research report on Friday, November 21st. Oppenheimer reissued an “outperform” rating on shares of Elastic in a research note on Friday, August 29th. DA Davidson dropped their price objective on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Finally, Guggenheim reduced their target price on Elastic from $122.00 to $116.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $107.25.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.