Elastic (NYSE:ESTC) CTO Shay Banon Sells 2,683 Shares

Elastic (NYSE:ESTC) CTO Shay Banon sold 2,683 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $243,562.74. Following the completion of the transaction, the chief technology officer now directly owns 4,535,456 shares in the company, valued at $411,728,695.68. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, March 4th, Shay Banon sold 140,129 shares of Elastic stock. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72.
• On Sunday, March 2nd, Shay Banon sold 25,668 shares of Elastic stock. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04.

Elastic Stock Performance

NYSE ESTC opened at $98.61 on Thursday. The company has a market cap of $10.30 billion, a PE ratio of 179.30 and a beta of 1.20. The stock’s 50 day simple moving average is $105.97 and its 200-day simple moving average is $95.07. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. As a group, equities research analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Elastic

A number of institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp lifted its position in Elastic by 3.1% during the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after buying an additional 139 shares in the last quarter. Sigma Planning Corp lifted its position in Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after buying an additional 139 shares in the last quarter. CIBC Asset Management Inc lifted its position in Elastic by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after buying an additional 151 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after buying an additional 158 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

ESTC has been the topic of a number of research reports. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Morgan Stanley raised their target price on Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Robert W. Baird raised their target price on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Wedbush lowered Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Cantor Fitzgerald assumed coverage on Elastic in a report on Friday, January 17th. They set a “neutral” rating and a $108.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.52.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.