Elastic (NYSE:ESTC) Insider Sells $481,473.30 in Stock

Key Points

• Elastic insider Carolyn Herzog sold 5,485 shares for $481,473 at an average price of $87.78, reducing her holdings by 4.63%. The sale was made to cover tax withholding obligations related to vested equity awards.
• Elastic shares recently traded at $83.45, while the company reported quarterly earnings of $0.70 per share—beating estimates of $0.58—and revenue of $478.11 million, up 15.2% year over year.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and a $94.12 average price target; institutional investors own approximately 97.03% of outstanding shares.

Elastic N.V. (NYSE:ESTC - Get Free Report) insider Carolyn Herzog sold 5,485 shares of the firm's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total value of $481,473.30. Following the completion of the transaction, the insider owned 112,954 shares in the company, valued at approximately $9,915,102.12. This trade represents a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Carolyn Herzog also recently made the following trade(s):

• On Tuesday, September 1st, Carolyn Herzog sold 10,000 shares of Elastic stock. The shares were sold at an average price of $93.67, for a total value of $936,700.00.

Elastic Stock Performance

Elastic stock traded down $3.13 during mid-day trading on Thursday, reaching $83.45. 2,100,369 shares of the stock traded hands, compared to its average volume of 2,176,438. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $108.00. The business's 50-day moving average is $73.76 and its 200-day moving average is $60.74. 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 stock has a market capitalization of $8.76 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 8.56 and a beta of 1.03.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.12. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The business had revenue of $478.11 million for the quarter, compared to analysts' expectations of $469.75 million. During the same period last year, the firm posted $0.60 earnings per share. The business's revenue for the quarter was up 15.2% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, sell-side analysts predict that Elastic N.V. will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Elastic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESTC. California State Teachers Retirement System lifted its holdings in Elastic by 5,082.4% during the second quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company's stock valued at $309,031,000 after purchasing an additional 5,315,115 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Elastic by 153.4% in the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company's stock worth $569,201,000 after purchasing an additional 4,567,720 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Elastic by 516.1% in the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company's stock worth $131,356,000 after purchasing an additional 2,201,140 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Elastic by 43.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company's stock valued at $324,550,000 after purchasing an additional 1,958,219 shares during the period. Finally, FIL Ltd raised its position in shares of Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company's stock valued at $273,753,000 after purchasing an additional 977,578 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ESTC. Truist Financial upped their target price on shares of Elastic from $80.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Canaccord Genuity Group lifted their price target on shares of Elastic from $80.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. UBS Group boosted their price objective on shares of Elastic from $85.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, August 28th. William Blair began coverage on Elastic in a research note on Friday, May 22nd. They issued an "outperform" rating for the company. Finally, Weiss Ratings raised Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.12.

Elastic Company Profile

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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