Elastic (NYSE:ESTC) CFO Navam Welihinda Sells 8,961 Shares

Key Points

• Elastic CFO Navam Welihinda sold 8,961 shares at an average price of $87.78, totaling approximately $786,597. The sale was made to cover tax withholding tied to vested equity awards, leaving him with 200,293 shares.
• Elastic reported quarterly EPS of $0.70, beating estimates of $0.58, while revenue reached $478.11 million and rose 15.2% year over year. Shares recently traded at $83.45, below the analyst consensus price target of $94.12.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and recent price-target increases from firms including Oppenheimer and JPMorgan. Institutional investors own approximately 97.03% of Elastic’s shares.

Elastic N.V. (NYSE:ESTC - Get Free Report) CFO Navam Welihinda sold 8,961 shares of Elastic stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total transaction of $786,596.58. Following the sale, the chief financial officer owned 200,293 shares in the company, valued at approximately $17,581,719.54. This represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Price Performance

Shares of Elastic stock traded down $3.13 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. Elastic N.V. has a 52 week low of $42.05 and a 52 week high of $108.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market cap of $8.76 billion, a PE ratio of 23.38, a PEG ratio of 8.56 and a beta of 1.03. The business has a 50-day simple moving average of $73.76 and a 200-day simple moving average of $60.74.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.12. The firm had revenue of $478.11 million for the quarter, compared to analyst estimates of $469.75 million. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.Elastic's revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company 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. Research analysts expect that Elastic N.V. will post 0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amundi lifted its position in Elastic by 37.2% in the 1st quarter. Amundi now owns 296,604 shares of the company's stock worth $14,827,000 after buying an additional 80,441 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Elastic by 21.8% during the 1st quarter. California State Teachers Retirement System now owns 104,579 shares of the company's stock valued at $5,228,000 after acquiring an additional 18,716 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Elastic by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company's stock worth $130,124,000 after acquiring an additional 49,198 shares during the last quarter. Temasek Holdings Private Ltd increased its stake in shares of Elastic by 9.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company's stock worth $97,654,000 after acquiring an additional 109,608 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Elastic by 15.6% during the fourth quarter. Legal & General Group Plc now owns 396,595 shares of the company's stock worth $29,919,000 after acquiring an additional 53,523 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ESTC has been the subject of several research analyst reports. DA Davidson upped their price target on shares of Elastic from $60.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, August 26th. Weiss Ratings upgraded shares of Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 15th. Oppenheimer boosted their target price on shares of Elastic from $100.00 to $118.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. Morgan Stanley increased their target price on Elastic from $66.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, August 28th. Finally, JPMorgan Chase & Co. raised their target price on Elastic from $93.00 to $105.00 and gave the stock an "overweight" rating in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $94.12.

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.

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