Director Schuurman Steven sells 2,377,400 ESTC shares for $266.1M at $111.95; reduces stake by -28.4% to 6,004,600 shares
Schuurman Steven, a Director, executed a substantial open-market sale of 2,377,400 shares (2.38M shares) for a total value of $266,149,930.00 ($266.1M) at $111.95 on 2024-12-04, reducing his holdings by 28.4% from 8,382,000 to 6,004,600 shares. The transaction occurred at a price within the 52-week range and currently sits -17.1% from the 52-week high of $133.81. While the stock has rallied 30.0% over the last 30 days and 58.2% over the last 90 days, his prior sell at this same ticker on 2024-03-26 demonstrated a 90-day return of +11.7%, indicating the stock advanced after that sale; across his full cross-ticker open-market history, 0 of his sales were well-timed at the 90-day mark. The sale occurs against a backdrop of deteriorating fundamentals: the company posted a net loss of $-25,450,000.00 ($-25.4M) on revenue of $365,361,000.00 ($365.4M) in the latest quarter, with an elevated P/E of 191.34 despite 18.6% annual revenue growth, a valuation mismatch that may have influenced the decision to liquidate a significant portion of holdings.