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

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 165,171 shares of Elastic stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $90.26, for a total transaction of $14,908,334.46. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 value 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 value 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 value of $562,945.68.

Elastic Trading Down 3.2%

NYSE ESTC traded down $2.96 on Wednesday, hitting $89.43. 2,407,438 shares of the company were exchanged, compared to its average volume of 3,129,352. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $108.00. The company’s 50 day moving average price is $70.31 and its 200-day moving average price is $59.69. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.68. The firm has a market capitalization of $9.39 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 8.95 and a beta of 1.03.

Elastic (NYSE:ESTC) last issued its quarterly 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. The business had revenue of $478.11 million for the quarter, compared to the consensus estimate of $469.75 million. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.Elastic’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company 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. Analysts predict that Elastic N.V. will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elastic

Large investors have recently bought and sold shares of the company. Orion Porfolio Solutions LLC raised its holdings in shares of Elastic by 1.4% in the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after purchasing an additional 118 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after acquiring an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Elastic by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock valued at $2,393,000 after acquiring an additional 175 shares during the last quarter. California State Teachers Retirement System boosted its position in Elastic by 0.3% during the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after purchasing an additional 219 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in Elastic by 4.6% in the second quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock valued at $344,000 after purchasing an additional 263 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ESTC shares. Guggenheim upped their price target on Elastic from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Citigroup boosted their target price on Elastic from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Scotiabank lifted their target price on shares of Elastic from $58.00 to $84.00 and gave the stock a “sector perform” rating in a report on Friday, August 28th. Wells Fargo & Company lifted their price objective 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. Finally, Wolfe Research set a $55.00 price target on shares of Elastic in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.12.

Key Headlines Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic’s earnings outlook is benefiting from upward estimate revisions, which could support the stock if analysts continue to raise forecasts. Can Elastic Run Higher on Rising Earnings Estimates?
• Positive Sentiment: RBC Capital initiated or reiterated a Buy rating, adding favorable sell-side support. Elastic Receives a Buy from RBC Capital
• Neutral Sentiment: Elastic delivered an earnings beat, highlighted growing enterprise adoption of its AI-powered search and cloud platform, and raised or maintained guidance pointing to continued fiscal 2027 growth. Still, DA Davidson remained Neutral, arguing that one strong quarter is not sufficient confirmation of the longer-term growth trajectory. Elastic Beat and Raised Guidance
• Negative Sentiment: CTO Shay Banon sold 476,298 shares across August 31 through September 2 for approximately $44.5 million, reducing his holdings by roughly 22% across the reported transactions. Additional sales by Chief Accounting Officer Jane Bone and insider Carolyn Herzog totaled about $1.3 million. The concentration of selling by senior insiders may reinforce profit-taking concerns, although the executives retain sizable positions. Elastic Insider Sale Filings
• Negative Sentiment: A separate analysis downgraded Elastic, reflecting concern that expectations and valuation may have moved ahead of fundamentals after the earnings-driven rally. Elastic Adjusting My Position After This Sprint

Elastic Company Profile

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.