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

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 80,583 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $92.65, for a total transaction of $7,466,014.95. Following the completion of the transaction, the chief technology officer directly owned 4,156,557 shares in the company, valued at $385,105,006.05. The trade was a 1.90% decrease in their position. The sale was disclosed in a legal 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 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 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 stock was sold at an average price of $96.47, for a total value of $19,294,000.00.

Elastic Price Performance

Shares of Elastic stock traded down $3.22 during trading on Tuesday, hitting $88.59. 2,487,604 shares of the stock traded hands, compared to its average volume of 2,174,470. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 8.89 and a beta of 1.03. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. Elastic N.V. has a 52 week low of $42.05 and a 52 week high of $108.00. The firm’s fifty day moving average is $72.57 and its 200-day moving average is $60.37.

Elastic (NYSE:ESTC) last released 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 company 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%.Elastic’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company 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. Research analysts expect 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 several recent research reports. Guggenheim boosted their price target on shares of Elastic from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Scotiabank upped their price target on shares of Elastic from $58.00 to $84.00 and gave the company a “sector perform” rating in a report on Friday, August 28th. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research report on Friday, August 28th. Rosenblatt Securities reissued a “buy” rating and issued a $83.00 price target on shares of Elastic in a report on Wednesday, August 26th. Finally, Morgan Stanley raised their target price on Elastic from $66.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings 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 worth $309,031,000 after purchasing an additional 5,315,115 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Elastic by 153.4% during the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after purchasing an additional 4,567,720 shares in the last quarter. First Trust Advisors LP increased its holdings in Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock worth $131,356,000 after buying an additional 2,201,140 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Elastic by 43.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after buying an additional 1,958,219 shares during the last quarter. Finally, FIL Ltd raised its position in Elastic by 36.9% in the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after buying an additional 977,578 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.