Traders Purchase High Volume of Elastic Call Options (NYSE:ESTC)

Elastic N.V. (NYSE:ESTC) saw unusually large options trading on Thursday. Investors acquired 4,904 call options on the stock. This is an increase of approximately 130% compared to the average volume of 2,131 call options.

Analysts Set New Price Targets

A number of research firms recently weighed in on ESTC. Morgan Stanley lowered their target price on shares of Elastic from $80.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Royal Bank Of Canada lowered their price objective on Elastic from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Weiss Ratings restated a “sell (d)” rating on shares of Elastic in a research report on Wednesday, January 21st. Canaccord Genuity Group decreased their price target on Elastic from $115.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Wells Fargo & Company lowered their price target on Elastic from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Friday, February 27th. Seventeen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.25.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 4,283 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $223,915.24. Following the sale, the chief technology officer directly owned 4,354,945 shares in the company, valued at approximately $227,676,524.60. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ken Exner sold 4,310 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $225,326.80. Following the completion of the transaction, the insider owned 222,728 shares of the company’s stock, valued at $11,644,219.84. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,375 shares of company stock worth $2,091,797 in the last three months. Company insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Several large investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in shares of Elastic by 153.4% in the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after buying an additional 4,567,720 shares during the last quarter. FIL Ltd grew its holdings in Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after acquiring an additional 977,578 shares during the last quarter. Alyeska Investment Group L.P. increased its position in Elastic by 490.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock valued at $94,080,000 after acquiring an additional 924,911 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Elastic by 7.4% in the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock worth $862,322,000 after acquiring an additional 705,991 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Elastic by 302.1% in the second quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company’s stock worth $78,649,000 after acquiring an additional 700,697 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

Shares of NYSE ESTC traded up $1.44 during mid-day trading on Thursday, hitting $51.38. 424,131 shares of the stock were exchanged, compared to its average volume of 2,166,446. The company has a market cap of $5.32 billion, a P/E ratio of -63.80, a PEG ratio of 63.82 and a beta of 0.98. The stock’s fifty day simple moving average is $60.01 and its two-hundred day simple moving average is $74.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 1.82. Elastic has a twelve month low of $48.71 and a twelve month high of $98.25.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. The business had revenue of $449.88 million for the quarter, compared to the consensus estimate of $438.37 million. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.Elastic’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

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.