Elastic (NYSE:ESTC) CTO Shay Banon Sells 150,000 Shares

Elastic (NYSE:ESTC) CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total value of $16,638,000.00. Following the completion of the transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, September 9th, Shay Banon sold 2,666 shares of Elastic stock. The stock was sold at an average price of $70.25, for a total value of $187,286.50.

Elastic Price Performance

Shares of Elastic stock traded down $1.40 during trading on Wednesday, reaching $110.13. The company’s stock had a trading volume of 1,495,115 shares, compared to its average volume of 1,336,475. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The company has a market capitalization of $11.32 billion, a P/E ratio of 204.47 and a beta of 0.94. The business has a 50 day moving average price of $83.22 and a 200-day moving average price of $96.99.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The company had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. Elastic had a negative return on equity of 13.54% and a net margin of 4.39%. Elastic’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.35) earnings per share. As a group, sell-side analysts anticipate that Elastic will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Guggenheim boosted their price target on Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. DA Davidson upped their target price on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Canaccord Genuity Group boosted their price target on Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada boosted their price target on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Scotiabank upped their target price on Elastic from $92.00 to $135.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.33.

Institutional Trading of Elastic

A number of institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in Elastic by 12.7% in the first quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock valued at $106,000 after purchasing an additional 119 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Elastic by 44.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,851 shares of the company’s stock worth $385,000 after acquiring an additional 1,179 shares in the last quarter. Tidal Investments LLC raised its stake in Elastic by 612.2% during the first quarter. Tidal Investments LLC now owns 23,267 shares of the company’s stock valued at $2,332,000 after buying an additional 20,000 shares in the last quarter. Castleark Management LLC lifted its stake in Elastic by 76.9% during the first quarter. Castleark Management LLC now owns 30,460 shares of the company’s stock worth $3,053,000 after purchasing an additional 13,240 shares during the last quarter. Finally, LBP AM SA acquired a new stake in Elastic during the first quarter worth about $2,317,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.