Elastic (NYSE:ESTC) CAO Sells $180,720.40 in Stock

Elastic N.V. (NYSE:ESTC) CAO Jane Bone sold 2,408 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $180,720.40. Following the sale, the chief accounting officer directly owned 44,358 shares in the company, valued at $3,329,067.90. This represents a 5.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Elastic Stock Up 5.5%

NYSE:ESTC traded up $4.14 during midday trading on Wednesday, reaching $78.83. The company had a trading volume of 2,207,160 shares, compared to its average volume of 1,786,393. The stock’s fifty day simple moving average is $82.89 and its 200-day simple moving average is $83.86. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64. Elastic N.V. has a 12-month low of $68.10 and a 12-month high of $118.84. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of -76.54 and a beta of 0.97.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.06. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The business had revenue of $423.48 million during the quarter, compared to analysts’ expectations of $418.27 million. During the same quarter last year, the business posted $0.59 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, sell-side analysts anticipate that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Elastic announced that its Board of Directors has approved a share buyback plan on Thursday, October 9th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald decreased their price objective on shares of Elastic from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Wedbush lowered their price objective on Elastic from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Oppenheimer reiterated an “outperform” rating on shares of Elastic in a report on Friday, August 29th. Scotiabank decreased their target price on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Elastic from $120.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. Seventeen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average target price of $107.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic in the second quarter valued at about $31,000. Smartleaf Asset Management LLC increased its holdings in shares of Elastic by 53.7% in the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock valued at $40,000 after purchasing an additional 152 shares during the period. Huntington National Bank raised its stake in shares of Elastic by 97.5% during the second quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 231 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Elastic during the second quarter worth approximately $40,000. Finally, Promus Capital LLC purchased a new position in Elastic in the 2nd quarter valued at $45,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.