Shay Banon Sells 20,000 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CTO Shay Banon sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $101.52, for a total transaction of $2,030,400.00. Following the completion of the transaction, the chief technology officer now owns 3,054,978 shares of the company’s stock, valued at $310,141,366.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 18th, Shay Banon sold 100,000 shares of Elastic stock. The stock was sold at an average price of $101.73, for a total transaction of $10,173,000.00.
• On Tuesday, March 12th, Shay Banon sold 1,322 shares of Elastic stock. The stock was sold at an average price of $106.23, for a total transaction of $140,436.06.

Elastic Stock Up 1.4 %

Shares of ESTC stock opened at $102.38 on Friday. The stock has a market cap of $10.32 billion, a P/E ratio of 222.57 and a beta of 0.97. Elastic has a 52 week low of $52.30 and a 52 week high of $136.06. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. The company’s fifty day simple moving average is $118.01 and its two-hundred day simple moving average is $99.24.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.01. The business had revenue of $327.96 million for the quarter, compared to analysts’ expectations of $320.48 million. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. Analysts predict that Elastic will post -1.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ESTC shares. Rosenblatt Securities lifted their target price on shares of Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Truist Financial lifted their target price on shares of Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Stifel Nicolaus lifted their target price on shares of Elastic from $99.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Wells Fargo & Company raised shares of Elastic from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $90.00 to $108.00 in a research report on Friday, December 1st. Finally, Barclays cut their price objective on shares of Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $111.26.

Institutional Trading of Elastic

Hedge funds have recently bought and sold shares of the stock. Rakuten Securities Inc. purchased a new stake in Elastic in the 4th quarter worth $25,000. Quarry LP raised its position in shares of Elastic by 79.6% during the 1st quarter. Quarry LP now owns 591 shares of the company’s stock valued at $34,000 after buying an additional 262 shares in the last quarter. Covestor Ltd raised its position in shares of Elastic by 168.3% during the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after buying an additional 281 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Elastic by 50.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 707 shares of the company’s stock valued at $36,000 after buying an additional 238 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Elastic during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 74.66% of the company’s stock.

Elastic Company Profile

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.