Key Points
- Elastic director Steven Schuurman sold 2 million shares for approximately $188.3 million at an average price of $94.15, reducing his ownership by 44.4% to 2.5 million shares. He also sold 1.5 million shares worth $135.2 million the previous week.
- Elastic’s latest quarterly results exceeded expectations, with adjusted EPS of $0.70 versus the $0.58 consensus and revenue of $478.1 million, up 15.2% year over year.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $97.92, while institutional investors own approximately 97.03% of the company’s stock.
Elastic N.V. (NYSE:ESTC - Get Free Report) Director Steven Schuurman sold 2,000,000 shares of Elastic stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
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 Trading Down 1.1%
NYSE:ESTC opened at $94.47 on Wednesday. The company's 50 day moving average price is $87.50 and its 200-day moving average price is $66.93. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. Elastic N.V. has a 52 week low of $42.05 and a 52 week high of $108.00. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 8.02 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. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $469.75 million. During the same quarter last year, the firm posted $0.60 EPS. The business's quarterly revenue was up 15.2% compared to the same quarter last year. 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 forecast that Elastic N.V. will post 0.65 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on ESTC shares. Piper Sandler reissued a "hold" rating on shares of Elastic in a research report on Friday, August 28th. Citigroup lifted their price objective on shares of Elastic from $104.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Monness Crespi & Hardt upgraded Elastic from a "neutral" rating to a "buy" rating and set a $120.00 target price on the stock in a research report on Friday, October 9th. Stifel Nicolaus increased their price objective on shares of Elastic from $107.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, October 9th. Finally, Weiss Ratings raised Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, Elastic presently has a consensus rating of "Moderate Buy" and an average target price of $97.92.
Get Our Latest Report on ESTC
Hedge Funds Weigh In On Elastic
Several institutional investors and hedge funds have recently added to or reduced their stakes in ESTC. Amundi raised its position in shares of Elastic by 37.2% in the first quarter. Amundi now owns 296,604 shares of the company's stock worth $14,827,000 after acquiring an additional 80,441 shares during the period. Engineers Gate Manager LP lifted its position in shares of Elastic by 43.7% in the second quarter. Engineers Gate Manager LP now owns 129,697 shares of the company's stock valued at $7,395,000 after acquiring an additional 39,468 shares in the last quarter. California State Teachers Retirement System boosted its stake in Elastic by 21.8% during the 1st quarter. California State Teachers Retirement System now owns 104,579 shares of the company's stock worth $5,228,000 after purchasing an additional 18,716 shares during the last quarter. Temasek Holdings Private Ltd boosted its position in Elastic by 9.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company's stock worth $97,654,000 after acquiring an additional 109,608 shares during the last quarter. Finally, Kettle Hill Capital Management LLC acquired a new position in shares of Elastic during the 4th quarter worth approximately $29,690,000. Hedge funds and other institutional investors own 97.03% of the company's stock.
About Elastic
(
Get Free Report)
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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