Insider Selling: Elastic (NYSE:ESTC) CTO Sells 150,000 Shares of Stock

Elastic (NYSE:ESTC) CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction that occurred on 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 sale, the chief technology officer now directly owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 Stock Performance

Shares of ESTC stock opened at $109.52 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average price of $84.60 and a 200-day moving average price of $97.18. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The firm has a market capitalization of $11.35 billion, a PE ratio of 200.24 and a beta of 0.94.

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 business had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) EPS. As a group, equities research analysts expect that Elastic will post -0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ESTC. Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 price target on shares of Elastic in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Barclays lifted their price target on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Canaccord Genuity Group boosted their price objective on shares of Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Wedbush raised shares of Elastic from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a research note on Monday, November 25th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus target price of $126.33.

Institutional Trading of Elastic

Large investors have recently modified their holdings of the company. Blueshift Asset Management LLC bought a new position in Elastic in the third quarter valued at about $585,000. Fifth Third Wealth Advisors LLC bought a new position in shares of Elastic in the 3rd quarter worth approximately $1,262,000. WD Rutherford LLC purchased a new position in shares of Elastic in the second quarter worth approximately $422,000. Assenagon Asset Management S.A. bought a new stake in Elastic during the second quarter valued at approximately $102,169,000. Finally, Daventry Group LP raised its position in Elastic by 8.6% in the second quarter. Daventry Group LP now owns 316,975 shares of the company’s stock worth $36,107,000 after acquiring an additional 25,008 shares during the period. Institutional investors 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.