Elastic (NYSE:ESTC) CTO Shay Banon Sells 84,207 Shares

Key Points

• Elastic CTO Shay Banon sold 84,207 shares on September 14 at an average price of $84.64, generating approximately $7.13 million. He retained 3.91 million shares, and the transaction reduced his position by 2.11%.
• Banon has made several additional sales since August 31, selling hundreds of thousands of shares in transactions totaling tens of millions of dollars.
• Elastic recently exceeded quarterly earnings and revenue expectations, with revenue up 15.2% year over year. Analysts maintain a consensus “Moderate Buy” rating and an average price target of $96.52.

Elastic N.V. (NYSE:ESTC - Get Free Report) CTO Shay Banon sold 84,207 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $84.64, for a total transaction of $7,127,280.48. Following the completion of the sale, the chief technology officer owned 3,910,563 shares of the company's stock, valued at approximately $330,990,052.32. The trade was a 2.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 shares were sold at an average price of $86.82, for a total value of $13,507,976.52.
• 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 transaction of $7,466,014.95.
• On Thursday, September 3rd, Shay Banon sold 23,702 shares of Elastic stock. The stock was sold at an average price of $94.11, for a total transaction 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 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 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.

Elastic Stock Performance

Shares of Elastic stock traded down $0.04 during trading hours on Tuesday, reaching $85.07. The company had a trading volume of 1,552,652 shares, compared to its average volume of 2,175,016. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. 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 $8.93 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 7.08 and a beta of 1.03. The business has a fifty day simple moving average of $75.32 and a 200 day simple moving average of $61.33.

Elastic (NYSE:ESTC - Get Free Report) last posted 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 quarter in the previous year, the firm earned $0.60 EPS. The company's quarterly revenue was up 15.2% compared to the same quarter last year. 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, analysts anticipate that Elastic N.V. will post 0.64 earnings per share for the current fiscal year.

Institutional Trading of Elastic

Several hedge funds and other institutional investors have recently bought and sold shares of ESTC. Pictet Asset Management Holding SA grew its stake in Elastic by 43.2% in the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company's stock worth $324,550,000 after purchasing an additional 1,958,219 shares during the period. First Trust Advisors LP lifted its holdings in shares of Elastic by 516.1% during the first 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 last quarter. Geode Capital Management LLC boosted its position in shares of Elastic by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company's stock worth $130,124,000 after purchasing an additional 49,198 shares in the last quarter. Temasek Holdings Private Ltd increased its position in Elastic by 9.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company's stock valued at $97,654,000 after buying an additional 109,608 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in Elastic by 12.5% in the fourth quarter. Panagora Asset Management Inc. now owns 1,031,378 shares of the company's stock worth $77,807,000 after acquiring an additional 114,965 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Bank of America boosted their price target 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. Robert W. Baird increased their price objective on Elastic from $95.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, August 28th. Jefferies Financial Group lifted their price objective on Elastic from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Scotiabank upped 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. Finally, Barclays boosted their price objective on Elastic from $68.00 to $94.00 and gave the stock an "overweight" rating in a report on Monday, August 24th. One equities research 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's stock. Based on data from MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and an average target price 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.

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