Elastic (NYSE:ESTC) CTO Sells $14,908,334.46 in Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 165,171 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $90.26, for a total value of $14,908,334.46. Following the sale, the chief technology officer owned 1,578,680 shares in the company, valued at approximately $142,491,656.80. This trade represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, September 1st, Shay Banon sold 111,127 shares of Elastic stock. The stock was sold at an average price of $92.60, for a total transaction of $10,290,360.20.
• On Monday, August 31st, Shay Banon sold 200,000 shares of Elastic stock. The shares were sold at an average price of $96.47, for a total transaction of $19,294,000.00.
• On Tuesday, June 9th, Shay Banon sold 9,288 shares of Elastic stock. The stock was sold at an average price of $60.61, for a total transaction of $562,945.68.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $91.74 on Friday. Elastic N.V. has a one year low of $42.05 and a one year high of $108.00. The firm has a market cap of $9.63 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 9.31 and a beta of 1.03. The firm’s 50 day simple moving average is $71.88 and its 200-day simple moving average is $60.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.68 and a current ratio of 1.81.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The business had revenue of $478.11 million during the quarter, compared to analyst estimates of $469.75 million. During the same period in the previous year, the company posted $0.60 EPS. Elastic’s revenue was up 15.2% on a year-over-year basis. 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 analysts predict that Elastic N.V. will post 0.56 EPS for the current year.

Institutional Investors Weigh In On Elastic

Institutional investors have recently modified their holdings of the business. Amundi grew its stake in Elastic by 37.2% in the 1st quarter. Amundi now owns 296,604 shares of the company’s stock valued at $14,827,000 after acquiring an additional 80,441 shares during the period. California State Teachers Retirement System raised its position in shares of 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. Geode Capital Management LLC lifted its stake in Elastic by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock valued at $130,124,000 after buying an additional 49,198 shares in the last quarter. Temasek Holdings Private Ltd boosted its holdings in Elastic by 9.3% in the 4th quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock worth $97,654,000 after buying an additional 109,608 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Elastic by 15.6% in the 4th quarter. Legal & General Group Plc now owns 396,595 shares of the company’s stock worth $29,919,000 after buying an additional 53,523 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on ESTC shares. Scotiabank boosted their target price on Elastic from $58.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Friday, August 28th. Piper Sandler restated a “hold” rating on shares of Elastic in a research note on Friday, August 28th. Stifel Nicolaus boosted their price target on Elastic from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Oppenheimer increased their price objective on Elastic from $100.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Finally, Morgan Stanley increased their price objective on shares of Elastic from $66.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.12.

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.