Elastic (NYSE:ESTC) CAO Sells $109,025.00 in Stock

Key Points

• Jane Bone, the Chief Accounting Officer at Elastic, sold 1,250 shares of the company's stock for a total of $109,025, resulting in a 3.21% reduction in her ownership.
• Elastic's recent quarterly earnings showed a loss of $0.08 EPS, which was below analysts' expectations of $0.42, despite a 19.5% year-over-year increase in revenue to $415.29 million.
• The company has initiated a share buyback plan as of October 9th, allowing it to repurchase shares, typically indicating management believes the stock is undervalued.

Elastic N.V. (NYSE:ESTC - Get Free Report) CAO Jane Bone sold 1,250 shares of the firm's stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $87.22, for a total value of $109,025.00. Following the sale, the chief accounting officer owned 37,633 shares of the company's stock, valued at $3,282,350.26. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Elastic Stock Performance

Elastic stock traded down $2.91 on Tuesday, reaching $81.81. 1,966,163 shares of the stock were exchanged, compared to its average volume of 1,751,268. Elastic N.V. has a twelve month low of $70.14 and a twelve month high of $118.84. The stock has a market cap of $8.69 billion, a PE ratio of -102.26 and a beta of 1.05. The firm has a fifty day moving average price of $83.49 and a two-hundred day moving average price of $84.35. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.50). Elastic had a negative return on equity of 1.68% and a negative net margin of 5.38%.The business had revenue of $415.29 million for the quarter, compared to the consensus estimate of $397.13 million. During the same quarter last year, the company earned $0.35 earnings per share. The firm's revenue was up 19.5% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. Sell-side analysts anticipate that Elastic N.V. will post -0.77 EPS for the current year.

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

Hedge Funds Weigh In On Elastic

Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC increased its position in shares of Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Elastic by 0.5% in the 1st quarter. Y.D. More Investments Ltd now owns 29,742 shares of the company's stock valued at $2,756,000 after acquiring an additional 145 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Elastic by 53.7% during the 1st 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. WCM Investment Management LLC grew its holdings in shares of Elastic by 0.7% during the 1st quarter. WCM Investment Management LLC now owns 23,811 shares of the company's stock worth $2,183,000 after acquiring an additional 169 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company's stock worth $98,000 after acquiring an additional 171 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Scotiabank set a $90.00 price target on shares of Elastic and gave the stock a "sector perform" rating in a research note on Monday, October 6th. Oppenheimer reiterated an "outperform" rating on shares of Elastic in a report on Friday, August 29th. Robert W. Baird boosted their target price on Elastic from $120.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday. Jefferies Financial Group upped their price target on Elastic from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Piper Sandler increased their target price on Elastic from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $119.00.

About Elastic

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.

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