Shay Banon Sells 120,000 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CTO Shay Banon sold 120,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.48, for a total value of $13,137,600.00. Following the transaction, the chief technology officer now owns 2,754,978 shares of the company’s stock, valued at $301,614,991.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, June 21st, Shay Banon sold 180,000 shares of Elastic stock. The stock was sold at an average price of $107.82, for a total transaction of $19,407,600.00.
• On Monday, June 10th, Shay Banon sold 5,260 shares of Elastic stock. The shares were sold at an average price of $109.89, for a total transaction of $578,021.40.

Elastic Stock Performance

ESTC stock opened at $110.06 on Thursday. Elastic has a twelve month low of $57.38 and a twelve month high of $136.06. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. The company has a market cap of $11.19 billion, a P/E ratio of 207.66 and a beta of 0.92. The business’s fifty day moving average is $106.69 and its 200-day moving average is $110.45.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. The company had revenue of $335.00 million during the quarter, compared to the consensus estimate of $329.15 million. Equities research analysts forecast that Elastic will post -1.12 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ESTC. DekaBank Deutsche Girozentrale bought a new stake in Elastic in the first quarter valued at approximately $1,823,000. Cambridge Trust Co. acquired a new position in shares of Elastic in the 1st quarter valued at $130,000. Cetera Advisors LLC bought a new stake in shares of Elastic in the 1st quarter valued at $435,000. Washington Harbour Partners LP acquired a new stake in Elastic during the 1st quarter worth $1,443,000. Finally, LBP AM SA bought a new position in Elastic during the first quarter worth about $2,317,000. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of research analyst reports. Citigroup lifted their target price on shares of Elastic from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. JPMorgan Chase & Co. cut their price objective on Elastic from $138.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. The Goldman Sachs Group increased their target price on Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. UBS Group began coverage on Elastic in a report on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and a consensus target price of $118.05.

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.