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 transaction, the chief accounting officer directly owned 53,415 shares in the company, valued at $3,237,483.15. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Price Performance

NYSE ESTC opened at $60.70 on Thursday. The business’s fifty day moving average price is $52.39 and its 200-day moving average price is $61.17. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 20.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.82. Elastic N.V. has a 1-year low of $42.05 and a 1-year high of $96.07.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million for the quarter, compared to analysts’ expectations of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. 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 analysts predict that Elastic N.V. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. UBS Group restated a “buy” rating and issued a $85.00 price objective on shares of Elastic in a research note on Friday, May 29th. Rothschild & Co Redburn assumed coverage on Elastic in a research note on Thursday, April 23rd. They issued a “neutral” rating and a $49.00 price objective for the company. William Blair assumed coverage on Elastic in a research note on Friday, May 22nd. They issued an “outperform” rating for the company. JPMorgan Chase & Co. reduced their price objective on Elastic from $99.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company reduced their price objective on Elastic from $75.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Eighteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.04.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of Elastic by 153.4% in the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after buying an additional 4,567,720 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of 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 in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of 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 in the last quarter. FIL Ltd increased its holdings in Elastic by 36.9% in the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after acquiring an additional 977,578 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Elastic by 490.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock worth $94,080,000 after purchasing an additional 924,911 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Elastic

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.