Insider Selling: Elastic (NYSE:ESTC) CRO Sells 18,439 Shares of 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 transaction of $1,117,587.79. Following the transaction, the executive owned 298,211 shares of the company’s stock, valued at approximately $18,074,568.71. The trade was a 5.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Price Performance

ESTC traded down $0.56 during midday trading on Wednesday, reaching $60.70. 1,241,304 shares of the company’s stock were exchanged, compared to its average volume of 2,103,974. The business’s 50-day moving average price is $52.16 and its 200 day moving average price is $61.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market capitalization of $6.28 billion, a PE ratio of 17.34, a P/E/G ratio of 86.23 and a beta of 1.00. Elastic N.V. has a 1-year low of $42.05 and a 1-year high of $96.07.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $450.68 million during the quarter, compared to analyst estimates of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 2.02%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. As a group, equities analysts anticipate that Elastic N.V. will post 0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ESTC. Wolfe Research set a $55.00 price target on shares of Elastic in a research report on Friday, May 29th. Truist Financial dropped their price target 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. Wedbush dropped their price target on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. Citigroup boosted their price objective on shares of Elastic from $95.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Finally, William Blair began coverage on shares of Elastic in a research note on Friday, May 22nd. They set an “outperform” rating for the company. Eighteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.04.

More Elastic News

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 Investors Weigh In On Elastic

Institutional investors have recently bought and sold shares of the business. Edgestream Partners L.P. purchased a new position in shares of Elastic in the first quarter valued at $444,000. Bull Harbor Capital LLC purchased a new position in shares of Elastic in the first quarter valued at $456,000. Smith Group Asset Management LLC boosted its stake in shares of Elastic by 2.2% in the first quarter. Smith Group Asset Management LLC now owns 37,168 shares of the company’s stock valued at $1,858,000 after purchasing an additional 795 shares during the period. Amundi boosted its stake in shares of Elastic by 37.2% in the first quarter. Amundi now owns 296,604 shares of the company’s stock valued at $14,827,000 after purchasing an additional 80,441 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Elastic by 21.8% in the first quarter. California State Teachers Retirement System now owns 104,579 shares of the company’s stock valued at $5,228,000 after purchasing an additional 18,716 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.