Elastic (NYSE:ESTC) Stock: Insider Steven Schuurman Sells 2,000,000 Shares

Elastic N.V. (NYSE:ESTC) Director Steven Schuurman sold 2,000,000 shares of the business’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $94.15, for a total value of $188,300,000.00. Following the completion of the transaction, the director owned 2,504,600 shares of the company’s stock, valued at $235,808,090. This represents a 44.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $90.13, for a total transaction of $135,195,000.00.

Elastic Trading Down 1.1%

NYSE:ESTC traded down $1.04 during midday trading on Tuesday, hitting $94.47. 1,629,194 shares of the company traded hands, compared to its average volume of 2,130,283. The firm’s fifty day moving average is $87.03 and its 200-day moving average is $66.61. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $108.00. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $9.92 billion, a P/E ratio of 26.46, a P/E/G ratio of 8.25 and a beta of 1.03.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 27th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. The company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. Elastic’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. 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, sell-side analysts predict that Elastic N.V. will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA lifted its holdings in Elastic by 43.2% in 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 in the last quarter. First Trust Advisors LP grew its stake in Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock worth $131,356,000 after acquiring an additional 2,201,140 shares during the period. Temasek Holdings Private Ltd grew its position in shares of Elastic by 9.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock valued at $97,654,000 after purchasing an additional 109,608 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of Elastic by 12.5% during the 4th quarter. Panagora Asset Management Inc. now owns 1,031,378 shares of the company’s stock worth $77,807,000 after acquiring an additional 114,965 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Elastic by 0.6% in the second quarter. Assenagon Asset Management S.A. now owns 905,241 shares of the company’s stock valued at $51,617,000 after purchasing an additional 5,224 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on ESTC. DA Davidson boosted their price target on shares of Elastic from $60.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, August 26th. Rosenblatt Securities restated a “buy” rating and issued a $83.00 price objective on shares of Elastic in a research note on Wednesday, August 26th. Zacks Research raised Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. Canaccord Genuity Group lifted their target price on Elastic from $80.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Scotiabank lifted their target price on shares of Elastic from $58.00 to $84.00 and gave the company a “sector perform” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Elastic presently has an average rating of “Moderate Buy” and an average target price of $97.92.

Elastic Company Profile

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.