Elastic N.V. (NYSE:ESTC) Short Interest Update

Elastic N.V. (NYSE:ESTC) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 3,868,490 shares, a decline of 39.0% from the August 15th total of 6,338,244 shares. Approximately 4.2% of the company’s stock are short sold. Based on an average daily volume of 3,656,632 shares, the days-to-cover ratio is currently 1.1 days.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 29,227 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total value of $2,565,546.06. Following the transaction, the chief executive officer directly owned 599,525 shares of the company’s stock, valued at approximately $52,626,304.50. This trade represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 10,000 shares of Elastic stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $93.67, for a total transaction of $936,700.00. Following the transaction, the insider owned 118,439 shares of the company’s stock, valued at $11,094,181.13. This represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,075,641 shares of company stock worth $98,430,566. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in Elastic during the second quarter valued at $211,000. Engineers Gate Manager LP increased its holdings in shares of Elastic by 43.7% in the second quarter. Engineers Gate Manager LP now owns 129,697 shares of the company’s stock worth $7,395,000 after purchasing an additional 39,468 shares during the period. Squarepoint Ops LLC raised its stake in Elastic by 1,139.5% in the second quarter. Squarepoint Ops LLC now owns 97,798 shares of the company’s stock valued at $5,576,000 after purchasing an additional 89,908 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Elastic during the second quarter worth about $319,000. Finally, Syon Capital LLC purchased a new stake in shares of Elastic in the 2nd quarter valued at $3,300,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. DA Davidson boosted their price objective on Elastic from $60.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, August 26th. Cantor Fitzgerald raised their target price on Elastic from $91.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, August 28th. Oppenheimer lifted their target price on Elastic from $100.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. Citigroup raised their price objective on Elastic from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Royal Bank Of Canada lifted their price objective on shares of Elastic from $70.00 to $87.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.52.

Elastic Stock Performance

Shares of NYSE:ESTC traded up $3.94 during midday trading on Thursday, reaching $88.97. The company had a trading volume of 1,997,586 shares, compared to its average volume of 2,172,925. The company’s 50 day moving average price is $76.33 and its 200 day moving average price is $61.69. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. The stock has a market cap of $9.34 billion, a P/E ratio of 24.92, a P/E/G ratio of 7.15 and a beta of 1.03. Elastic has a 52-week low of $42.05 and a 52-week high of $108.00.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.12. The company had revenue of $478.11 million during the quarter, compared to analyst estimates of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business 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. As a group, sell-side analysts anticipate that Elastic will post 0.65 EPS for the current fiscal year.

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.