Elastic (NYSE:ESTC) CTO Shay Banon Sells 111,127 Shares

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 111,127 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $92.60, for a total value of $10,290,360.20. Following the sale, the chief technology officer owned 1,743,851 shares of the company’s stock, valued at $161,480,602.60. The trade was a 5.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were 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 stock was sold at an average price of $60.61, for a total transaction of $562,945.68.

Elastic Stock Performance

NYSE:ESTC opened at $89.43 on Thursday. The company’s 50-day moving average price is $70.31 and its 200-day moving average price is $59.69. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 0.44. The company has a market cap of $9.39 billion, a P/E ratio of 25.05, a P/E/G ratio of 8.95 and a beta of 1.03. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $108.00.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. During the same period last year, the company earned $0.60 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. 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, sell-side analysts forecast that Elastic N.V. will post 0.56 earnings per share for the current fiscal year.

Elastic News Roundup

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic’s earnings outlook is benefiting from upward estimate revisions, which could support the stock if analysts continue to raise forecasts. Can Elastic Run Higher on Rising Earnings Estimates?
• Positive Sentiment: RBC Capital initiated or reiterated a Buy rating, adding favorable sell-side support. Elastic Receives a Buy from RBC Capital
• Neutral Sentiment: Elastic delivered an earnings beat, highlighted growing enterprise adoption of its AI-powered search and cloud platform, and raised or maintained guidance pointing to continued fiscal 2027 growth. Still, DA Davidson remained Neutral, arguing that one strong quarter is not sufficient confirmation of the longer-term growth trajectory. Elastic Beat and Raised Guidance
• Negative Sentiment: CTO Shay Banon sold 476,298 shares across August 31 through September 2 for approximately $44.5 million, reducing his holdings by roughly 22% across the reported transactions. Additional sales by Chief Accounting Officer Jane Bone and insider Carolyn Herzog totaled about $1.3 million. The concentration of selling by senior insiders may reinforce profit-taking concerns, although the executives retain sizable positions. Elastic Insider Sale Filings
• Negative Sentiment: A separate analysis downgraded Elastic, reflecting concern that expectations and valuation may have moved ahead of fundamentals after the earnings-driven rally. Elastic Adjusting My Position After This Sprint

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Elastic during the 2nd quarter worth $319,000. California State Teachers Retirement System raised its position in Elastic by 5,082.4% in the 2nd quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock valued at $309,031,000 after purchasing an additional 5,315,115 shares in the last quarter. Syon Capital LLC purchased a new position in shares of Elastic in the 2nd quarter valued at about $3,300,000. denkapparat Operations GmbH acquired a new position in shares of Elastic during the second quarter worth about $322,000. Finally, Wellington Management Group LLP acquired a new position in shares of Elastic during the second quarter worth about $41,889,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stifel Nicolaus upped their price objective on Elastic from $90.00 to $107.00 and gave the company a “buy” rating in a report on Friday, August 28th. Robert W. Baird lifted their target price on shares of Elastic from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Wolfe Research set a $55.00 target price on Elastic in a research report on Friday, May 29th. Morgan Stanley raised their price target on Elastic from $66.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 28th. Finally, Cantor Fitzgerald boosted their price objective on Elastic from $91.00 to $100.00 and gave the company a “neutral” 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.12.

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.