Rep. Robert Bresnahan, Jr. Sells Off Shares of Elastic N.V. (NYSE:ESTC)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Elastic N.V. NYSE: ESTC. In a filing disclosed on June 23rd, the Representative disclosed that they had sold between $1,001 and $15,000 in Elastic stock on May 23rd. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Zoom Communications NASDAQ: ZM on 6/25/2025.
• Purchased $1,001 - $15,000 in shares of Coinbase Global NASDAQ: COIN on 6/24/2025.
• Purchased $1,001 - $15,000 in shares of Circle Internet Group NYSE: CRCL on 6/24/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 6/23/2025.
• Sold $1,001 - $15,000 in shares of Chubb NYSE: CB on 6/13/2025.
• Sold $1,001 - $15,000 in shares of Atlassian NASDAQ: TEAM on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of ServiceTitan NASDAQ: TTAN on 6/11/2025.
• Sold $1,001 - $15,000 in shares of Datadog NASDAQ: DDOG on 6/11/2025.
• Sold $1,001 - $15,000 in shares of GitLab NASDAQ: GTLB on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 6/11/2025.

Elastic Stock Up 2.1%

ESTC traded up $1.83 during midday trading on Friday, hitting $90.54. 391,540 shares of the company's stock traded hands, compared to its average volume of 1,665,747. The company has a market cap of $9.56 billion, a PE ratio of -86.23 and a beta of 1.07. The stock's fifty day simple moving average is $86.08 and its 200-day simple moving average is $92.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. Elastic N.V. has a one year low of $69.00 and a one year high of $118.84.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.10. The firm had revenue of $388.43 million during the quarter, compared to analysts' expectations of $380.61 million. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. Elastic's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. As a group, equities analysts anticipate that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Elastic by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after purchasing an additional 168,483 shares during the period. Sylebra Capital LLC increased its stake in shares of Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after purchasing an additional 1,756,842 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Elastic by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after purchasing an additional 462,974 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after purchasing an additional 2,246,808 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Elastic by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock worth $142,663,000 after purchasing an additional 45,076 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insiders Place Their Bets

In other news, insider Carolyn Herzog sold 5,702 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $495,560.82. Following the transaction, the insider directly owned 93,985 shares in the company, valued at $8,168,236.35. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Mark Eugene Dodds sold 5,514 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $479,221.74. Following the completion of the transaction, the executive directly owned 165,443 shares in the company, valued at $14,378,651.13. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,913 shares of company stock valued at $4,416,324. Insiders own 15.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ESTC shares. Stifel Nicolaus dropped their target price on shares of Elastic from $140.00 to $112.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Piper Sandler reduced their price target on shares of Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Scotiabank lowered their price target on shares of Elastic from $137.00 to $95.00 and set a "sector outperform" rating on the stock in a report on Friday, May 30th. KeyCorp initiated coverage on shares of Elastic in a research note on Tuesday, June 10th. They issued a "sector weight" rating for the company. Finally, TD Securities dropped their price objective on shares of Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $112.72.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

Elastic Company Profile

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.