Insider Selling: Elastic (NYSE:ESTC) CRO Sells $849,095.94 in Stock

Elastic N.V. (NYSE:ESTC) CRO Mark Dodds sold 9,673 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total transaction of $849,095.94. Following the completion of the sale, the executive owned 288,538 shares of the company’s stock, valued at approximately $25,327,865.64. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Down 3.6%

Shares of ESTC traded down $3.13 during trading hours on Thursday, hitting $83.45. The company had a trading volume of 2,100,369 shares, compared to its average volume of 2,176,438. The firm has a market cap of $8.76 billion, a P/E ratio of 23.38, a P/E/G ratio of 8.56 and a beta of 1.03. Elastic N.V. has a 52-week low of $42.05 and a 52-week high of $108.00. The stock’s 50 day moving average price is $73.76 and its 200 day moving average price is $60.74. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.12. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $469.75 million. During the same period last year, the company earned $0.60 EPS. Elastic’s revenue for the quarter was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, research analysts predict that Elastic N.V. will post 0.56 EPS for the current year.

Institutional Trading of Elastic

A number of hedge funds and other institutional investors have recently modified their holdings of ESTC. Geneos Wealth Management Inc. purchased a new stake in Elastic in the 2nd quarter worth $31,000. Bessemer Group Inc. bought a new stake in Elastic in the 1st quarter worth approximately $25,000. Aster Capital Management DIFC Ltd increased its position in Elastic by 206.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock worth $42,000 after purchasing an additional 371 shares during the last quarter. Basecamp Wealth Advisors LLC bought a new stake in shares of Elastic in the 1st quarter worth about $28,000. Finally, Quarry LP raised its position in Elastic by 16,200.0% during the fourth quarter. Quarry LP now owns 652 shares of the company’s stock valued at $49,000 after purchasing an additional 648 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ESTC shares. Wolfe Research set a $55.00 price target on shares of Elastic in a report on Friday, May 29th. Wells Fargo & Company raised their price objective on Elastic from $60.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 25th. Piper Sandler restated a “hold” rating on shares of Elastic in a research note on Friday, August 28th. Bank of America boosted their price target on Elastic from $90.00 to $108.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Finally, UBS Group raised their target price on shares of Elastic from $85.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.12.

Elastic Company Profile

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.