Elastic (NYSE:ESTC) CFO Navam Welihinda Sells 12,961 Shares

Elastic N.V. (NYSE:ESTC) CFO Navam Welihinda sold 12,961 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $785,566.21. Following the completion of the sale, the chief financial officer directly owned 209,254 shares in the company, valued at approximately $12,682,884.94. This represents a 5.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $60.70 on Thursday. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $96.07. The firm has a market cap of $6.28 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 20.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.82 and a current ratio of 1.68. The business has a fifty day moving average of $52.39 and a 200-day moving average of $61.17.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The business had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. During the same period in the previous year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts predict that Elastic N.V. will post 0.18 EPS for the current fiscal year.

More Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic presented at Rosenblatt’s 6th Annual Age of AI Technology Summit, keeping the company’s AI-related product story and growth narrative in focus for investors. Elastic N.V. Presents at Rosenblatt 6th Annual Age of AI Technology Summit Transcript
• Neutral Sentiment: Elastic disclosed that several top executives, including the CEO, CFO, CTO, CAO and CRO, sold shares on June 9. The company said the sales were tied to tax withholding from equity vesting, but the size of the transactions may still weigh on sentiment. Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni Sells 40,373 Shares
• Neutral Sentiment: Elastic also highlighted a new risk around regulatory hurdles and budget pressures in government contracting, which could make revenue from public-sector customers less predictable if spending slows or procurement becomes more complicated. Regulatory Hurdles and Budget Pressures: Government Contract Risks Cloud Elastic N.V.’s Revenue Outlook
• Negative Sentiment: The heaviest drag on ESTC today is likely the cluster of insider sales, which can be read as a cautious signal by investors despite management saying the trades were routine tax-related transactions.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ESTC shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $110.00 price target on shares of Elastic in a research report on Tuesday, May 26th. UBS Group reaffirmed a “buy” rating and set a $85.00 price target on shares of Elastic in a research report on Friday, May 29th. Piper Sandler dropped their price target on Elastic from $110.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Jefferies Financial Group decreased their price objective on Elastic from $95.00 to $75.00 and set a “buy” rating for the company in a report on Friday, May 29th. Finally, Truist Financial decreased their price objective on Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 27th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and a consensus target price of $80.04.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC bought a new position in Elastic in the fourth quarter valued at approximately $25,000. Bessemer Group Inc. bought a new position in Elastic in the first quarter valued at approximately $25,000. Geneos Wealth Management Inc. bought a new position in Elastic in the second quarter valued at approximately $31,000. Activest Wealth Management grew its stake in Elastic by 3,181.3% in the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after purchasing an additional 509 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its stake in Elastic by 206.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after purchasing an additional 371 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic Company Profile

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.