Insider Selling: Elastic (NYSE:ESTC) CTO Sells $19,294,000.00 in Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 200,000 shares of Elastic stock in a transaction on Monday, August 31st. The shares were sold at an average price of $96.47, for a total transaction of $19,294,000.00. Following the completion of the sale, the chief technology officer directly owned 1,854,978 shares of the company’s stock, valued at approximately $178,949,727.66. This trade represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 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 transaction of $10,290,360.20.
• 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 Stock Performance

Shares of ESTC opened at $91.74 on Friday. The stock has a 50 day moving average of $71.88 and a 200 day moving average of $60.16. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 9.31 and a beta of 1.03. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $108.00. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 0.44.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $469.75 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’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, sell-side analysts forecast that Elastic N.V. will post 0.56 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on ESTC. Wolfe Research set a $55.00 price objective on Elastic in a report on Friday, May 29th. Piper Sandler reissued a “hold” rating on shares of Elastic in a report on Friday, August 28th. Barclays boosted their price objective on Elastic from $68.00 to $94.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Truist Financial raised their price objective on shares of Elastic from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Oppenheimer lifted their price objective on shares of Elastic from $100.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.12.

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. purchased a new position in Elastic in the second quarter worth $31,000. Bessemer Group Inc. purchased a new position in shares of Elastic during the 1st quarter valued at about $25,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Elastic by 206.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after buying an additional 371 shares in the last quarter. Basecamp Wealth Advisors LLC bought a new stake in Elastic in the 1st quarter worth approximately $28,000. Finally, Quarry LP lifted its position in Elastic by 16,200.0% in the 4th quarter. Quarry LP now owns 652 shares of the company’s stock worth $49,000 after buying an additional 648 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.