Insider Selling: Elastic (NYSE:ESTC) CTO Sells $13,137,600.00 in Stock

Elastic (NYSE:ESTC) CTO Shay Banon sold 120,000 shares of Elastic stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $109.48, for a total transaction of $13,137,600.00. Following the transaction, the chief technology officer now directly owns 2,754,978 shares in the company, valued at $301,614,991.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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 Price Performance

Shares of NYSE ESTC opened at $114.77 on Friday. The company has a 50 day simple moving average of $107.08 and a two-hundred day simple moving average of $110.48. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of 216.55 and a beta of 0.92. Elastic has a fifty-two week low of $57.38 and a fifty-two week high of $136.06. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 1.76.

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

Institutional Trading of Elastic

Several institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its stake in shares of Elastic by 30.8% in the first 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. Vanguard Group Inc. raised its position in Elastic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock worth $863,440,000 after buying an additional 44,597 shares during the last quarter. Sylebra Capital LLC purchased a new position in Elastic in the 3rd quarter worth about $318,822,000. JPMorgan Chase & Co. boosted its holdings in shares of Elastic by 5.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,969,585 shares of the company’s stock valued at $241,249,000 after acquiring an additional 155,612 shares during the last quarter. Finally, Alkeon Capital Management LLC grew its stake in shares of Elastic by 82.1% in the third quarter. Alkeon Capital Management LLC now owns 1,995,985 shares of the company’s stock worth $162,154,000 after acquiring an additional 900,000 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ESTC shares. The Goldman Sachs Group boosted their target price on Elastic from $93.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Rosenblatt Securities increased their price objective on Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, March 1st. UBS Group initiated coverage on shares of Elastic in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 target price on the stock. Robert W. Baird cut their price target on shares of Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Finally, Canaccord Genuity Group lowered their price objective on shares of Elastic from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.05.

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.