Mark Eugene Dodds Sells 9,673 Shares of Elastic (NYSE:ESTC) Stock

Key Points

• Elastic CRO Mark Dodds sold 9,673 shares for approximately $849,096 at an average price of $87.78. The sale was made to cover tax withholding tied to vested equity awards, reducing his direct ownership by 3.24% to 288,538 shares.
• Elastic shares fell 3.6% to $83.45 during Thursday trading. The stock remains well above its 52-week low of $42.05 but below its $108.00 high.
• Elastic recently beat quarterly earnings and revenue expectations, with revenue up 15.2% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $94.12.

Elastic N.V. (NYSE:ESTC - Get Free Report) CRO Mark Dodds sold 9,673 shares of Elastic stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total value of $849,095.94. Following the completion of the transaction, the executive directly owned 288,538 shares of the company's stock, valued at approximately $25,327,865.64. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Down 3.6%

Shares of NYSE:ESTC traded down $3.13 during midday trading on Thursday, reaching $83.45. The company's stock had a trading volume of 2,100,369 shares, compared to its average volume of 2,176,438. Elastic N.V. has a fifty-two week low of $42.05 and a fifty-two week high of $108.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a 50 day moving average price of $73.76 and a two-hundred day moving average price of $60.74. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 8.56 and a beta of 1.03.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, August 27th. The company reported $0.70 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 during the quarter, compared to analysts' expectations of $469.75 million. During the same quarter last year, the firm posted $0.60 earnings per share. The firm's revenue 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, analysts forecast that Elastic N.V. will post 0.56 earnings per share for the current year.

Analyst Ratings Changes

ESTC has been the subject of a number of research reports. Oppenheimer raised their price target on shares of Elastic from $100.00 to $118.00 and gave the stock an "outperform" rating in a report on Friday, August 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Elastic in a research report on Friday, August 28th. Jefferies Financial Group upped their price target on Elastic from $100.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. Zacks Research raised shares of Elastic from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 28th. Finally, Truist Financial boosted their price objective on Elastic from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $94.12.

Hedge Funds Weigh In On Elastic

Institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the 2nd quarter valued at $31,000. Bessemer Group Inc. purchased a new position in Elastic during the first quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd increased its holdings in shares of Elastic by 206.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock worth $42,000 after purchasing an additional 371 shares during the period. Basecamp Wealth Advisors LLC bought a new position in Elastic in the 1st quarter worth about $28,000. Finally, Quarry LP increased its position in shares of Elastic by 16,200.0% in the fourth quarter. Quarry LP now owns 652 shares of the company's stock worth $49,000 after purchasing an additional 648 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

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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