Elastic (NYSE:ESTC) CTO Sells $10,290,360.20 in Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 111,127 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $92.60, for a total transaction of $10,290,360.20. Following the completion of the transaction, the chief technology officer directly owned 1,743,851 shares in the company, valued at approximately $161,480,602.60. The trade was a 5.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 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 transaction of $19,294,000.00.
• On Tuesday, June 9th, Shay Banon sold 9,288 shares of Elastic stock. The shares were 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. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $108.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.68 and a current ratio of 1.81. The firm’s 50 day moving average price is $71.88 and its two-hundred day moving average price is $60.16. The firm has a market cap of $9.63 billion, a P/E ratio of 25.70, a PEG ratio of 9.31 and a beta of 1.03.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.58 by $0.12. The business had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. 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 forecast that Elastic N.V. will post 0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of recent research reports. Wolfe Research set a $55.00 price target on Elastic in a research report on Friday, May 29th. Piper Sandler reissued a “hold” rating on shares of Elastic in a research report on Friday, August 28th. Bank of America increased their price objective on shares of Elastic from $90.00 to $108.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Barclays boosted their target price on shares of Elastic from $68.00 to $94.00 and gave the stock an “overweight” rating in a report on Monday, August 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Elastic from $93.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.12.

Institutional Trading of Elastic

Institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in Elastic in the 1st quarter worth about $25,000. Basecamp Wealth Advisors LLC acquired a new position in shares of Elastic during the 1st quarter worth approximately $28,000. Geneos Wealth Management Inc. acquired a new stake in Elastic during the second quarter worth approximately $31,000. Harbor Investment Advisory LLC bought a new position in Elastic during the 2nd quarter worth $42,000. Finally, Aster Capital Management DIFC Ltd raised its holdings in Elastic by 206.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after acquiring an additional 371 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

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.