Ken Exner Sells 18,449 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) insider Ken Exner sold 18,449 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $1,118,193.89. Following the sale, the insider owned 360,037 shares in the company, valued at $21,821,842.57. The trade was a 4.87% decrease in their ownership of the stock. The sale 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 Price Performance

Shares of NYSE ESTC traded down $0.56 during trading on Wednesday, hitting $60.70. 1,241,304 shares of the company were exchanged, compared to its average volume of 2,103,974. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 86.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 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. The firm’s fifty day moving average price is $52.16 and its 200 day moving average price is $61.33.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.05. The business had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. Elastic had a negative return on equity of 2.02% and a net margin of 21.14%.The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $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, sell-side analysts expect that Elastic N.V. will post 0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elastic

Several institutional investors have recently made changes to their positions in ESTC. Sound Income Strategies LLC acquired a new stake in shares of Elastic during the 4th quarter valued at about $25,000. Bessemer Group Inc. bought a new stake in Elastic in the first quarter valued at $25,000. Geneos Wealth Management Inc. acquired a new position in Elastic in the second quarter worth $31,000. Activest Wealth Management boosted its stake in Elastic by 3,181.3% in the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after purchasing an additional 509 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after acquiring an additional 371 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic News Roundup

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: No clear positive company-specific catalyst was disclosed in the latest headlines.
• Neutral Sentiment: Several executives and insiders, including the CEO, CFO, CTO, CRO, CAO, and another insider, sold shares on June 9 at $60.61. The company said the transactions were made to cover tax withholding obligations tied to vesting equity awards, which makes them less concerning than open-market selling, but the large number of sales can still weigh on investor sentiment. Article
• Neutral Sentiment: Elastic also disclosed a new sales and marketing risk related to regulatory hurdles and budget pressures in government contracts, suggesting potential headwinds for revenue from public-sector customers. Article
• Negative Sentiment: The cluster of insider sales, especially the CEO’s and CFO’s larger transactions, may be read by investors as a cautious signal even though the company framed them as tax-related rather than discretionary selling.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wedbush dropped their price objective on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, May 29th. Morgan Stanley reduced their target price on Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Zacks Research cut Elastic from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 28th. Royal Bank Of Canada cut their target price on Elastic from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Finally, Wolfe Research set a $55.00 price target on Elastic in a report on Friday, May 29th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and a consensus price target of $80.04.

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.