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

Elastic (NYSE:ESTC) CTO Shay Banon sold 180,000 shares of Elastic stock in a transaction on Friday, June 21st. The shares were sold at an average price of $107.82, for a total value of $19,407,600.00. Following the transaction, the chief technology officer now owns 2,874,978 shares in the company, valued at approximately $309,980,127.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, June 24th, Shay Banon sold 120,000 shares of Elastic stock. The shares were sold at an average price of $109.48, for a total value of $13,137,600.00.
• 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 value of $578,021.40.

Elastic Stock Up 1.0 %

Shares of ESTC opened at $110.06 on Thursday. The company has a market capitalization of $11.19 billion, a P/E ratio of 207.66 and a beta of 0.92. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.76. Elastic has a one year low of $57.38 and a one year high of $136.06. The business’s 50 day simple moving average is $106.69 and its 200-day simple moving average is $110.45.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The business had revenue of $335.00 million during the quarter, compared to analyst estimates of $329.15 million. Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. As a group, sell-side analysts predict that Elastic will post -1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ESTC shares. Oppenheimer lifted their price objective on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. UBS Group started coverage on Elastic in a research report on Wednesday, May 22nd. They set a “buy” rating and a $135.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research report on Friday, May 31st. Stifel Nicolaus reduced their price target on Elastic from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Canaccord Genuity Group reduced their price target on Elastic from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.05.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Elastic by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock worth $696,514,000 after buying an additional 380,694 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Elastic in the 4th quarter valued at $25,660,000. CenterBook Partners LP lifted its stake in shares of Elastic by 13.1% in the 4th quarter. CenterBook Partners LP now owns 27,985 shares of the company’s stock valued at $3,154,000 after purchasing an additional 3,245 shares during the period. UBS Group AG lifted its stake in shares of Elastic by 28.0% in the 3rd quarter. UBS Group AG now owns 56,805 shares of the company’s stock valued at $4,615,000 after purchasing an additional 12,430 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Elastic by 3.8% in the 3rd quarter. Northern Trust Corp now owns 372,712 shares of the company’s stock valued at $30,279,000 after purchasing an additional 13,587 shares during the period. Institutional investors and hedge funds own 97.03% 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.