Elastic (NYSE:ESTC) CTO Shay Banon Sells 155,586 Shares of Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 155,586 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $86.82, for a total transaction of $13,507,976.52. Following the sale, the chief technology officer owned 4,000,971 shares in the company, valued at $347,364,302.22. This represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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 transaction of $528,263.19.
• On Friday, September 4th, Shay Banon sold 80,583 shares of Elastic stock. The stock was sold at an average price of $92.65, for a total value 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 shares were sold at an average price of $94.07, for a total value of $16,932,600.00.
• On Wednesday, September 2nd, Shay Banon sold 165,171 shares of Elastic stock. The shares were sold at an average price of $90.26, for a total value of $14,908,334.46.
• 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 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 value of $19,294,000.00.

Elastic Price Performance

Shares of ESTC stock opened at $83.44 on Friday. The business has a fifty day simple moving average of $74.79 and a 200 day simple moving average of $61.07. The company has a market cap of $8.76 billion, a P/E ratio of 23.37, a P/E/G ratio of 8.09 and a beta of 1.03. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. Elastic N.V. has a twelve month low of $42.05 and a twelve month 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, beating analysts’ consensus estimates of $0.58 by $0.12. The firm had revenue of $478.11 million for 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 business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous 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. On average, sell-side analysts forecast that Elastic N.V. will post 0.56 EPS for the current fiscal year.

Key Headlines Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic introduced Elasticsearch Vector Database, a serverless offering designed for large-scale vector search and artificial-intelligence applications. The product is intended to simplify deployment, support hundreds of billions of vectors and strengthen Elastic’s position in the growing AI-search market. Elastic Introduces Serverless Vector Database
• Positive Sentiment: Wedbush began coverage with an “outperform” rating and a $125 price target, implying substantial upside from the recent trading level. The recommendation reflects optimism about Elastic’s AI, search and cloud growth opportunities.
• Positive Sentiment: Short interest dropped 39% between mid-August and August 31 to 3.87 million shares, or roughly 4.2% of shares outstanding. Reduced bearish positioning and only 1.1 days of short-interest coverage could provide technical support and limit short-selling pressure.
• Neutral Sentiment: Elastic’s latest quarterly results were strong, with $0.70 in adjusted EPS versus the $0.58 consensus and revenue of $478.1 million versus $469.8 million expected. Revenue grew 15.2% year over year, and fiscal 2027 EPS guidance was set at $3.29 to $3.37; however, these results were reported previously and may already be reflected in the stock’s valuation.
• Negative Sentiment: Several executives, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CRO Mark Dodds and CAO Jane Bone, sold shares on September 9. The sales totaled about 54,888 shares and $4.8 million, but were made to cover tax withholding on vested equity awards, making them less concerning than discretionary selling.
• Negative Sentiment: Repeated insider selling following a strong rally could still weigh on sentiment, particularly as investors assess whether the company’s AI-driven growth can justify its elevated valuation.

Institutional Trading of Elastic

Several institutional investors have recently modified their holdings of the business. California State Teachers Retirement System lifted its stake in shares of Elastic by 5,082.4% in the second quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock worth $309,031,000 after acquiring an additional 5,315,115 shares during the period. AQR Capital Management LLC boosted its holdings in 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 acquiring an additional 4,567,720 shares during the last quarter. First Trust Advisors LP increased its position in Elastic by 516.1% during the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after purchasing an additional 2,201,140 shares during the period. Pictet Asset Management Holding SA increased its position in Elastic by 43.2% during 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 during the period. Finally, FIL Ltd raised 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 purchasing an additional 977,578 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Elastic from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 25th. Truist Financial increased their price target on Elastic from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. JPMorgan Chase & Co. raised their price objective on Elastic from $93.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Stifel Nicolaus boosted their price objective on Elastic from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Finally, TD Cowen boosted their price objective on Elastic from $55.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus price target of $96.52.

About Elastic

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.