Insider Selling: Elastic (NYSE:ESTC) CTO Sells 80,583 Shares

Key Points

• Elastic CTO Shay Banon sold 80,583 shares at an average price of $92.65, generating approximately $7.47 million. He retained 4.16 million shares worth about $385.1 million, while also completing several other large sales in the preceding week.
• Elastic shares fell 3.5% to $88.59, despite trading well above their 50-day and 200-day moving averages and remaining near the upper end of their 52-week range.
• The company exceeded quarterly earnings and revenue expectations, reporting $0.70 in EPS and $478.1 million in revenue, up 15.2% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $94.12, while institutional investors own 97.03% of the stock.

Elastic N.V. (NYSE:ESTC - Get Free Report) CTO Shay Banon sold 80,583 shares of the company's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $92.65, for a total value of $7,466,014.95. Following the completion of the transaction, the chief technology officer directly owned 4,156,557 shares of the company's stock, valued at approximately $385,105,006.05. The trade was a 1.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 stock was 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 shares were sold at an average price of $96.47, for a total transaction of $19,294,000.00.

Elastic Trading Down 3.5%

Shares of ESTC traded down $3.22 during trading hours on Tuesday, hitting $88.59. 2,487,604 shares of the stock were exchanged, compared to its average volume of 2,174,470. The firm has a market capitalization of $9.30 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 8.89 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The business has a 50-day moving average of $72.57 and a 200-day moving average of $60.37. Elastic N.V. has a fifty-two week low of $42.05 and a fifty-two week high of $108.00.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.12. The business had revenue of $478.11 million during 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%.The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period 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. On average, research analysts expect that Elastic N.V. will post 0.56 EPS for the current year.

Institutional Trading of Elastic

Institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in 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 valued at $309,031,000 after acquiring an additional 5,315,115 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of 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 buying an additional 4,567,720 shares during the period. First Trust Advisors LP lifted its position in shares of 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 buying an additional 2,201,140 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of 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 buying an additional 1,958,219 shares during the last quarter. Finally, FIL Ltd grew its stake in shares of 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 acquiring an additional 977,578 shares during the period. Institutional investors own 97.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ESTC shares. Wolfe Research set a $55.00 price objective on shares of Elastic in a research report on Friday, May 29th. Jefferies Financial Group increased their price target on Elastic from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 28th. Truist Financial upped their target price on Elastic from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Rosenblatt Securities reissued a "buy" rating and issued a $83.00 price target on shares of Elastic in a research report on Wednesday, August 26th. Finally, Guggenheim upped their price objective on shares of Elastic from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $94.12.

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.

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