Elastic (NYSE:ESTC) CTO Sells $7,127,280.48 in Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 84,207 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $84.64, for a total transaction of $7,127,280.48. Following the sale, the chief technology officer directly owned 3,910,563 shares of the company’s stock, valued at $330,990,052.32. This trade represents a 2.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shay Banon also recently made the following trade(s):

• On Thursday, September 10th, Shay Banon sold 6,201 shares of Elastic stock. The shares were sold at an average price of $85.19, for a total value of $528,263.19.
• On Wednesday, September 9th, Shay Banon sold 155,586 shares of Elastic stock. The stock was sold at an average price of $86.82, for a total transaction of $13,507,976.52.
• On Friday, September 4th, Shay Banon sold 80,583 shares of Elastic stock. The shares were sold at an average price of $92.65, for a total transaction of $7,466,014.95.
• On Thursday, September 3rd, Shay Banon sold 23,702 shares of Elastic stock. The shares were sold at an average price of $94.11, for a total value of $2,230,595.22.
• On Thursday, September 3rd, Shay Banon sold 180,000 shares of Elastic stock. The stock was sold at an average price of $94.07, for a total transaction of $16,932,600.00.
• On Wednesday, September 2nd, Shay Banon sold 165,171 shares of Elastic stock. The stock was sold at an average price of $90.26, for a total transaction of $14,908,334.46.
• On Tuesday, September 1st, Shay Banon sold 111,127 shares of Elastic stock. The shares were sold at an average price of $92.60, for a total value of $10,290,360.20.
• On Monday, August 31st, Shay Banon sold 200,000 shares of Elastic stock. The stock was sold at an average price of $96.47, for a total transaction of $19,294,000.00.

Elastic Price Performance

Shares of ESTC stock traded down $0.04 on Tuesday, hitting $85.07. 1,552,652 shares of the stock traded hands, compared to its average volume of 2,175,016. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 7.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a 50 day simple moving average of $75.32 and a two-hundred day simple moving average of $61.33. Elastic N.V. has a 52 week low of $42.05 and a 52 week high of $108.00.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.12. The firm had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The firm’s revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the business 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. As a group, equities research analysts predict that Elastic N.V. will post 0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new stake in shares of Elastic in the 2nd quarter worth $211,000. Engineers Gate Manager LP increased its stake in shares of Elastic by 43.7% during the second quarter. Engineers Gate Manager LP now owns 129,697 shares of the company’s stock valued at $7,395,000 after buying an additional 39,468 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Elastic by 1,139.5% in the 2nd quarter. Squarepoint Ops LLC now owns 97,798 shares of the company’s stock valued at $5,576,000 after purchasing an additional 89,908 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Elastic in the 2nd quarter valued at about $319,000. Finally, Syon Capital LLC purchased a new stake in shares of Elastic in the 2nd quarter worth approximately $3,300,000. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

ESTC has been the topic of several recent research reports. DA Davidson upped their target price on shares of Elastic from $60.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, August 26th. Guggenheim boosted their target price on Elastic from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 28th. William Blair began coverage on Elastic in a report on Friday, May 22nd. They set an “outperform” rating on the stock. Piper Sandler restated a “hold” rating on shares of Elastic in a research report on Friday, August 28th. Finally, Bank of America boosted their price objective on shares of Elastic from $90.00 to $108.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.52.

Elastic Company Profile

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.