Ken Exner Sells 18,449 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) insider Ken Exner sold 18,449 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $1,118,193.89. Following the completion of the sale, the insider directly owned 360,037 shares of the company’s stock, valued at approximately $21,821,842.57. The trade was a 4.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Down 0.9%

ESTC opened at $60.25 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.82 and a current ratio of 1.68. The stock’s 50 day moving average price is $52.59 and its 200-day moving average price is $61.10. Elastic N.V. has a one year low of $42.05 and a one year high of $96.07. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 20.10 and a beta of 1.00.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The firm had revenue of $450.68 million during the quarter, compared to analyst estimates of $446.66 million. During the same period last year, the company earned $0.47 EPS. Elastic’s quarterly revenue was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, equities analysts forecast that Elastic N.V. will post 0.18 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup upped their price target on shares of Elastic from $95.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Rosenblatt Securities reissued a “buy” rating and issued a $110.00 price objective on shares of Elastic in a research report on Tuesday, May 26th. Stifel Nicolaus set a $65.00 target price on shares of Elastic in a research note on Friday, May 29th. Wedbush reduced their target price on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. Finally, Guggenheim lowered their price target on Elastic from $116.00 to $106.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus price target of $80.04.

Key Stories Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic’s presentation at Rosenblatt’s 6th Annual Age of AI Technology Summit kept its AI-related growth narrative in focus, which may help support sentiment around the company’s product momentum and long-term opportunity. Elastic N.V. Presents at Rosenblatt 6th Annual Age of AI Technology Summit Transcript
• Neutral Sentiment: Elastic reported a strong latest quarter, beating EPS and revenue expectations and raising forward guidance, which continues to provide a fundamental backdrop for the stock.
• Neutral Sentiment: Institutional ownership remains high, suggesting continued support from large investors despite recent volatility.
• Negative Sentiment: Multiple top insiders, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CTO Shay Banon, CRO Mark Eugene Dodds, CAO Jane Bone, and other executives, sold shares on June 9. The company says these were tied to tax withholding on equity vesting, but the size and breadth of the sales can still weigh on investor sentiment. Elastic Insider Buying and Selling Alert
• Negative Sentiment: Elastic also disclosed a new risk around regulatory hurdles and budget pressures in government contracting, which could make public-sector revenue less predictable if procurement slows or spending tightens. Government Contract Risks Cloud Elastic Revenue Outlook

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Elastic by 7.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock worth $862,322,000 after purchasing an additional 705,991 shares during the period. AQR Capital Management LLC lifted its holdings in Elastic by 153.4% during the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after buying an additional 4,567,720 shares during the period. Pictet Asset Management Holding SA boosted its position in 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 acquiring an additional 1,958,219 shares in the last quarter. FIL Ltd increased its holdings in shares of Elastic by 36.9% in the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after acquiring an additional 977,578 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after acquiring an additional 2,201,140 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

About Elastic

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.