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

Elastic (NYSE:ESTC) CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were 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 represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $70.25, for a total transaction of $187,286.50.

Elastic Price Performance

Shares of ESTC stock traded down $1.40 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 stock’s fifty day simple moving average is $83.22 and its 200-day simple moving average is $96.99. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of 204.47 and a beta of 0.94.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on ESTC shares. Barclays upped their target price on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday. DA Davidson increased their price objective on shares of Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus increased their price objective on shares of Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Citigroup increased their price objective on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada increased their price objective on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of Elastic by 256.3% during the third quarter. Franklin Resources Inc. now owns 341,524 shares of the company’s stock worth $28,387,000 after purchasing an additional 245,680 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Elastic by 239.1% during the third quarter. Tidal Investments LLC now owns 9,807 shares of the company’s stock worth $753,000 after purchasing an additional 6,915 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of Elastic by 131.9% in the third quarter. Virtu Financial LLC now owns 4,338 shares of the company’s stock valued at $333,000 after acquiring an additional 2,467 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Elastic by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock valued at $107,058,000 after acquiring an additional 50,355 shares in the last quarter. Finally, Vestcor Inc bought a new stake in shares of Elastic in the third quarter valued at about $1,919,000. 97.03% of the stock is 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.