Shay Banon Sells 2,666 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the sale, the chief technology officer now owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $109.48, for a total transaction of $13,137,600.00.
• 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.

Elastic Stock Performance

Elastic stock opened at $74.46 on Thursday. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 140.49 and a beta of 0.95. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The stock has a 50-day simple moving average of $104.14 and a 200 day simple moving average of $105.50.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10. The firm had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.35) EPS. On average, research analysts anticipate that Elastic will post -0.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ESTC has been the topic of a number of recent research reports. Robert W. Baird downgraded shares of Elastic from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $95.00 in a research note on Friday, August 30th. Truist Financial decreased their price target on shares of Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Royal Bank of Canada reduced their target price on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Jefferies Financial Group reduced their target price on shares of Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Scotiabank reduced their target price on shares of Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 30th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.24.

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESTC. Baillie Gifford & Co. raised its holdings in Elastic by 30.8% during the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock worth $1,018,110,000 after purchasing an additional 2,392,356 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in Elastic during the 2nd quarter worth about $248,335,000. Assenagon Asset Management S.A. bought a new stake in Elastic during the 2nd quarter worth about $102,169,000. Norges Bank bought a new stake in Elastic during the 4th quarter worth about $92,847,000. Finally, Federated Hermes Inc. raised its holdings in Elastic by 32,630.2% during the 2nd quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock worth $70,129,000 after purchasing an additional 613,774 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

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.