Elastic (NYSE:ESTC) Director Sells 2,000,000 Shares of Stock

Key Points

• Elastic director Steven Schuurman sold 2 million shares at an average price of $94.15, generating $188.3 million and reducing his position by 44.4% to 2,504,600 shares.
• Elastic reported quarterly EPS of $0.70, exceeding estimates of $0.58, while revenue rose 15.2% year over year to $478.11 million.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $97.92; the stock recently traded at $94.47 and has gained substantially from its 12-month low of $42.05.

Elastic N.V. (NYSE:ESTC - Get Free Report) Director Steven Schuurman sold 2,000,000 shares of Elastic stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $94.15, for a total transaction of $188,300,000.00. Following the sale, the director owned 2,504,600 shares of the company's stock, valued at $235,808,090. The trade was a 44.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Steven Schuurman also recently made the following trade(s):

• On Monday, October 5th, Steven Schuurman sold 1,500,000 shares of Elastic stock. The stock was sold at an average price of $90.13, for a total value of $135,195,000.00.

Elastic Stock Performance

Shares of NYSE:ESTC traded down $1.04 during trading on Tuesday, hitting $94.47. The stock had a trading volume of 1,629,194 shares, compared to its average volume of 2,130,283. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. The stock has a 50-day simple moving average of $87.03 and a two-hundred day simple moving average of $66.61. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $108.00. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 8.25 and a beta of 1.03.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.12. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%. Elastic's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $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. On average, equities research analysts expect that Elastic N.V. will post 0.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Oppenheimer lifted their price objective on Elastic from $100.00 to $118.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. TD Cowen raised their price objective on Elastic from $55.00 to $70.00 and gave the stock a "hold" rating in a report on Tuesday, August 25th. Bank of America boosted their price target on Elastic from $90.00 to $108.00 and gave the company a "neutral" rating in a research report on Friday, August 28th. Guggenheim increased their price objective on Elastic from $106.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Finally, Robert W. Baird raised their price target on Elastic from $95.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.92.

Hedge Funds Weigh In On Elastic

Institutional investors have recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC grew its position in Elastic by 80.0% in the third quarter. NorthCrest Asset Manangement LLC now owns 6,625 shares of the company's stock valued at $631,000 after acquiring an additional 2,944 shares during the last quarter. Kaizen Financial Strategies bought a new stake in shares of Elastic during the third quarter worth about $268,000. GAMMA Investing LLC increased its stake in Elastic by 61.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,470 shares of the company's stock valued at $135,000 after buying an additional 562 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Elastic by 49.8% in the third quarter. Farther Finance Advisors LLC now owns 1,709 shares of the company's stock valued at $157,000 after acquiring an additional 568 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new position in Elastic in the 3rd quarter valued at approximately $9,109,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Company Profile

Elastic N.V. NYSE: ESTC develops search, observability and security software for organizations that need to collect, analyze and act on large volumes of data. Its platform helps users search structured and unstructured information, monitor applications and infrastructure, detect security threats and build artificial intelligence-powered experiences.

The company's principal offerings include Elasticsearch, its distributed search and analytics engine; Kibana, a visualization and data exploration interface; and Elastic Cloud, a managed cloud service for deploying Elastic products.

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