Elastic (NYSE:ESTC) CTO Shay Banon Sells 120,000 Shares

Elastic (NYSE:ESTC) CTO Shay Banon sold 120,000 shares of Elastic stock in a transaction that occurred on Monday, June 24th. The shares were 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 sale 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 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 stock was sold at an average price of $109.89, for a total transaction of $578,021.40.

Elastic Stock Performance

Shares of ESTC opened at $108.95 on Wednesday. Elastic has a 1 year low of $57.38 and a 1 year high of $136.06. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 205.57 and a beta of 0.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a fifty day moving average of $106.38 and a 200-day moving average of $110.46.

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 the consensus estimate of ($0.36) by ($0.03). Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. The firm had revenue of $335.00 million for the quarter, compared to analyst estimates of $329.15 million. As a group, equities analysts anticipate that Elastic will post -1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ESTC shares. Stifel Nicolaus reduced their target price on shares of Elastic from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. JPMorgan Chase & Co. reduced their target price on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Rosenblatt Securities boosted their target price on shares of Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Scotiabank reduced their target price on shares of Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 31st. Finally, The Goldman Sachs Group lifted their price target on shares of Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.05.

Hedge Funds Weigh In On Elastic

Several hedge funds and other institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new position in shares of Elastic during the first quarter valued at $1,823,000. Cambridge Trust Co. bought a new position in Elastic in the 1st quarter valued at about $130,000. Cetera Advisors LLC bought a new position in Elastic in the 1st quarter valued at about $435,000. Washington Harbour Partners LP bought a new position in Elastic in the 1st quarter valued at about $1,443,000. Finally, LBP AM SA bought a new position in Elastic in the 1st quarter valued at about $2,317,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.