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

Elastic (NYSE:ESTC) CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the sale, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 transaction of $187,286.50.

Elastic Stock Down 1.3 %

Shares of ESTC opened at $110.13 on Thursday. Elastic has a one year low of $69.00 and a one year high of $136.06. The company has a market cap of $11.32 billion, a P/E ratio of 200.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a 50 day simple moving average of $83.22 and a two-hundred day simple moving average of $96.99.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating the consensus estimate 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 13.54%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.35) earnings per share. Research analysts forecast that Elastic will post -0.92 EPS for the current fiscal year.

Institutional Trading of Elastic

A number of hedge funds and other institutional investors have recently modified their holdings of ESTC. Advisors Asset Management Inc. grew its stake in shares of Elastic by 12.7% during the first quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock worth $106,000 after buying an additional 119 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Elastic by 44.1% during the first quarter. Lazard Asset Management LLC now owns 3,851 shares of the company’s stock worth $385,000 after buying an additional 1,179 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Elastic by 612.2% during the first quarter. Tidal Investments LLC now owns 23,267 shares of the company’s stock worth $2,332,000 after buying an additional 20,000 shares during the last quarter. Castleark Management LLC grew its stake in shares of 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 buying an additional 13,240 shares during the last quarter. Finally, LBP AM SA bought a new stake in shares of Elastic during the first quarter worth $2,317,000. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ESTC. Scotiabank raised their price objective on shares of Elastic from $92.00 to $135.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Stifel Nicolaus raised their price objective on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. William Blair upgraded shares of Elastic from a “market perform” rating to an “outperform” rating in a research report on Monday, October 14th. UBS Group dropped their price target on shares of Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, Jefferies Financial Group lifted their price target on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus target price of $126.33.

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.