Carolyn Herzog Sells 5,485 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) insider Carolyn Herzog sold 5,485 shares of Elastic stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total value of $481,473.30. Following the completion of the transaction, the insider directly owned 112,954 shares in the company, valued at approximately $9,915,102.12. This represents a 4.63% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Carolyn Herzog also recently made the following trade(s):

• On Tuesday, September 1st, Carolyn Herzog sold 10,000 shares of Elastic stock. The stock was sold at an average price of $93.67, for a total transaction of $936,700.00.

Elastic Trading Down 0.0%

NYSE:ESTC opened at $83.44 on Friday. The firm’s fifty day moving average is $74.79 and its 200-day moving average is $61.07. 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 N.V. has a 52 week low of $42.05 and a 52 week high of $108.00. The firm has a market cap of $8.76 billion, a P/E ratio of 23.37, a P/E/G ratio of 8.09 and a beta of 1.03.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. Elastic’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. Equities analysts expect that Elastic N.V. will post 0.56 earnings per share for the current year.

Institutional Trading of Elastic

Several large investors have recently made changes to their positions in the company. Amundi boosted its holdings in Elastic by 37.2% in the first quarter. Amundi now owns 296,604 shares of the company’s stock worth $14,827,000 after acquiring an additional 80,441 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Elastic by 21.8% during the first quarter. California State Teachers Retirement System now owns 104,579 shares of the company’s stock valued at $5,228,000 after acquiring an additional 18,716 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Elastic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock worth $130,124,000 after purchasing an additional 49,198 shares during the period. Temasek Holdings Private Ltd lifted its holdings in shares of Elastic by 9.3% in the 4th quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock worth $97,654,000 after purchasing an additional 109,608 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Elastic by 15.6% in the 4th quarter. Legal & General Group Plc now owns 396,595 shares of the company’s stock worth $29,919,000 after purchasing an additional 53,523 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

More Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic introduced Elasticsearch Vector Database, a serverless offering designed for large-scale vector search and artificial-intelligence applications. The product is intended to simplify deployment, support hundreds of billions of vectors and strengthen Elastic’s position in the growing AI-search market. Elastic Introduces Serverless Vector Database
• Positive Sentiment: Wedbush began coverage with an “outperform” rating and a $125 price target, implying substantial upside from the recent trading level. The recommendation reflects optimism about Elastic’s AI, search and cloud growth opportunities.
• Positive Sentiment: Short interest dropped 39% between mid-August and August 31 to 3.87 million shares, or roughly 4.2% of shares outstanding. Reduced bearish positioning and only 1.1 days of short-interest coverage could provide technical support and limit short-selling pressure.
• Neutral Sentiment: Elastic’s latest quarterly results were strong, with $0.70 in adjusted EPS versus the $0.58 consensus and revenue of $478.1 million versus $469.8 million expected. Revenue grew 15.2% year over year, and fiscal 2027 EPS guidance was set at $3.29 to $3.37; however, these results were reported previously and may already be reflected in the stock’s valuation.
• Negative Sentiment: Several executives, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CRO Mark Dodds and CAO Jane Bone, sold shares on September 9. The sales totaled about 54,888 shares and $4.8 million, but were made to cover tax withholding on vested equity awards, making them less concerning than discretionary selling.
• Negative Sentiment: Repeated insider selling following a strong rally could still weigh on sentiment, particularly as investors assess whether the company’s AI-driven growth can justify its elevated valuation.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. DA Davidson boosted their price objective on Elastic from $60.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. Wedbush started coverage on Elastic in a report on Friday. They issued an “outperform” rating and a $125.00 target price for the company. Scotiabank boosted their price target on Elastic from $58.00 to $84.00 and gave the company a “sector perform” rating in a research note on Friday, August 28th. Rosenblatt Securities reissued a “buy” rating and issued a $83.00 price target on shares of Elastic in a research note on Wednesday, August 26th. Finally, Guggenheim increased their price target on Elastic from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.52.

About Elastic

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.