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

Elastic (NYSE:ESTC) CTO Shay Banon sold 2,666 shares of the company’s 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 transaction, the chief technology officer now owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. The sale 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, 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 Price Performance

Elastic stock opened at $72.10 on Wednesday. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The stock has a market capitalization of $7.41 billion, a P/E ratio of 136.04 and a beta of 0.95. The firm’s 50-day moving average is $104.14 and its two-hundred day moving average is $105.50. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ESTC shares. Bank of America cut shares of Elastic from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $140.00 to $94.00 in a research note on Friday, August 30th. Stifel Nicolaus lowered their price target on shares of Elastic from $120.00 to $98.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. UBS Group lowered their price target on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Barclays lowered their price target on shares of Elastic from $117.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. Finally, Wells Fargo & Company lowered their price objective on shares of Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.45.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Asset Dedication LLC lifted its holdings in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares during the period. AlphaCentric Advisors LLC purchased a new position in shares of Elastic during the 2nd quarter worth about $40,000. Quarry LP purchased a new position in shares of Elastic during the 2nd quarter worth about $40,000. Lynx Investment Advisory purchased a new position in shares of Elastic during the 2nd quarter worth about $43,000. Finally, Signaturefd LLC lifted its holdings in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares during the period. 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.