Elastic (NYSE:ESTC) CAO Jane Bone Sells 1,104 Shares

Elastic N.V. (NYSE:ESTC) CAO Jane Bone sold 1,104 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $66,913.44. Following the completion of the transaction, the chief accounting officer owned 53,415 shares of the company’s stock, valued at $3,237,483.15. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Price Performance

Shares of ESTC traded down $0.56 during trading hours on Wednesday, reaching $60.70. The stock had a trading volume of 1,241,304 shares, compared to its average volume of 2,103,986. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $96.07. The stock has a market capitalization of $6.28 billion, a PE ratio of 17.34, a PEG ratio of 86.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 1.82. The company’s 50-day moving average is $52.16 and its two-hundred day moving average is $61.33.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 2.02% and a net margin of 21.14%.The company had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. During the same period in the prior year, the company earned $0.47 EPS. Elastic’s revenue was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Research analysts expect that Elastic N.V. will post 0.03 EPS for the current year.

Elastic News Roundup

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: No clear positive company-specific catalyst was disclosed in the latest headlines.
• Neutral Sentiment: Several executives and insiders, including the CEO, CFO, CTO, CRO, CAO, and another insider, sold shares on June 9 at $60.61. The company said the transactions were made to cover tax withholding obligations tied to vesting equity awards, which makes them less concerning than open-market selling, but the large number of sales can still weigh on investor sentiment. Article
• Neutral Sentiment: Elastic also disclosed a new sales and marketing risk related to regulatory hurdles and budget pressures in government contracts, suggesting potential headwinds for revenue from public-sector customers. Article
• Negative Sentiment: The cluster of insider sales, especially the CEO’s and CFO’s larger transactions, may be read by investors as a cautious signal even though the company framed them as tax-related rather than discretionary selling.

Institutional Trading of Elastic

A number of large investors have recently bought and sold shares of ESTC. Focus Partners Wealth acquired a new stake in Elastic during the 1st quarter worth about $494,000. Northwestern Mutual Wealth Management Co. grew its holdings in Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after acquiring an additional 171 shares during the period. Invesco Ltd. grew its holdings in Elastic by 11.7% during the 2nd quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock worth $8,039,000 after acquiring an additional 9,990 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Elastic by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock worth $178,000 after acquiring an additional 1,688 shares during the period. Finally, Cerity Partners LLC grew its holdings in Elastic by 24.7% during the 2nd quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock worth $2,576,000 after acquiring an additional 6,056 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wolfe Research set a $55.00 price target on Elastic in a research note on Friday, May 29th. The Goldman Sachs Group assumed coverage on Elastic in a report on Tuesday, April 21st. They issued a “neutral” rating and a $50.00 price objective for the company. Morgan Stanley decreased their price objective on Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Cantor Fitzgerald decreased their price objective on Elastic from $66.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Finally, Oppenheimer decreased their price objective on Elastic from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Eighteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and an average price target of $80.04.

About Elastic

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.