Elastic (NYSE:ESTC) CTO Sells 180,000 Shares of Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 180,000 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $94.07, for a total value of $16,932,600.00. Following the completion of the transaction, the chief technology officer owned 4,237,140 shares of the company’s stock, valued at $398,587,759.80. This trade represents a 4.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, September 4th, Shay Banon sold 80,583 shares of Elastic stock. The stock was sold at an average price of $92.65, for a total value of $7,466,014.95.
• On Thursday, September 3rd, Shay Banon sold 23,702 shares of Elastic stock. The shares were sold at an average price of $94.11, for a total transaction of $2,230,595.22.
• 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 transaction of $14,908,334.46.
• On Tuesday, September 1st, Shay Banon sold 111,127 shares of Elastic stock. The shares were sold at an average price of $92.60, for a total transaction of $10,290,360.20.
• On Monday, August 31st, Shay Banon sold 200,000 shares of Elastic stock. The shares were sold at an average price of $96.47, for a total transaction of $19,294,000.00.

Elastic Trading Down 3.5%

Elastic stock traded down $3.22 during midday trading on Tuesday, reaching $88.59. The stock had a trading volume of 2,487,604 shares, compared to its average volume of 2,174,470. 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 current ratio of 1.81 and a quick ratio of 1.81. The firm 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 firm’s fifty day simple moving average is $72.57 and its two-hundred day simple moving average is $60.37.

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

Institutional Investors Weigh In On Elastic

Several large investors have recently made changes to their positions in ESTC. Amundi increased its position in Elastic by 37.2% during the first quarter. Amundi now owns 296,604 shares of the company’s stock worth $14,827,000 after buying an additional 80,441 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Elastic by 21.8% during the 1st quarter. California State Teachers Retirement System now owns 104,579 shares of the company’s stock worth $5,228,000 after acquiring an additional 18,716 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Elastic by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock valued at $130,124,000 after acquiring an additional 49,198 shares during the last quarter. Temasek Holdings Private Ltd increased its holdings in shares of Elastic by 9.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock valued at $97,654,000 after acquiring an additional 109,608 shares during the last quarter. Finally, ING Groep NV raised its stake in shares of Elastic by 20.5% in the 4th quarter. ING Groep NV now owns 444,800 shares of the company’s stock valued at $33,556,000 after acquiring an additional 75,700 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Canaccord Genuity Group raised their price objective on Elastic from $80.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Zacks Research raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 28th. TD Cowen raised their price target on shares of Elastic from $55.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, August 25th. UBS Group boosted their price objective on shares of Elastic from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, Royal Bank Of Canada upped their price objective on shares of Elastic from $70.00 to $87.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and an average target price of $94.12.

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.