Elastic (NYSE:ESTC) Insider Carolyn Herzog Sells 9,485 Shares of Stock

Elastic N.V. (NYSE:ESTC) insider Carolyn Herzog sold 9,485 shares of Elastic stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $574,885.85. Following the transaction, the insider directly owned 128,439 shares in the company, valued at $7,784,687.79. This trade represents a 6.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Down 0.9%

ESTC stock opened at $60.70 on Thursday. The company has a market capitalization 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. Elastic N.V. has a one year low of $42.05 and a one year high of $96.07. The company’s 50 day moving average price is $52.39 and its two-hundred day moving average price is $61.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.82 and a current ratio of 1.68.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm 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, analysts predict that Elastic N.V. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of Elastic from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 28th. Rothschild & Co Redburn began coverage on Elastic in a research report on Thursday, April 23rd. They issued a “neutral” rating and a $49.00 target price for the company. Wells Fargo & Company reduced their price target on shares of Elastic from $75.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Oppenheimer reduced their price target on shares of Elastic from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. Finally, Citigroup upped their price target on shares of Elastic from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Eighteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.04.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ESTC. AQR Capital Management LLC boosted its position in shares of Elastic by 153.4% during the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after acquiring an additional 4,567,720 shares during the last quarter. First Trust Advisors LP lifted its position in Elastic by 516.1% in the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock worth $131,356,000 after buying an additional 2,201,140 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in Elastic by 43.2% in the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after buying an additional 1,958,219 shares during the last quarter. FIL Ltd lifted its position in Elastic by 36.9% in the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after buying an additional 977,578 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in Elastic by 490.4% in the third quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock worth $94,080,000 after buying an additional 924,911 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Key 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.

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.