Insider Selling: Elastic (NYSE:ESTC) CTO Sells $19,407,600.00 in Stock

Elastic (NYSE:ESTC) CTO Shay Banon sold 180,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $107.82, for a total value of $19,407,600.00. Following the completion of the transaction, the chief technology officer now owns 2,874,978 shares in the company, valued at $309,980,127.96. The sale was disclosed in a document filed 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 shares were sold at an average price of $109.48, for a total value of $13,137,600.00.
• 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 value of $578,021.40.

Elastic Stock Up 4.3 %

ESTC stock opened at $114.77 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market capitalization of $11.67 billion, a P/E ratio of 216.55 and a beta of 0.92. Elastic has a fifty-two week low of $57.38 and a fifty-two week high of $136.06. The business has a 50-day moving average of $107.08 and a 200-day moving average of $110.48.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. The firm had revenue of $335.00 million for the quarter, compared to analyst estimates of $329.15 million. On average, sell-side analysts anticipate that Elastic will post -1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ESTC has been the subject of a number of recent research reports. Bank of America dropped their price target on shares of Elastic from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Royal Bank of Canada lifted their price objective on Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Canaccord Genuity Group cut their target price on Elastic from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Stifel Nicolaus decreased their target price on Elastic from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Barclays lowered their price target on Elastic from $128.00 to $117.00 and set an “equal weight” rating for the company in a research note on Friday, May 31st. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ESTC. DekaBank Deutsche Girozentrale acquired a new position in shares of Elastic during the 1st quarter worth about $1,823,000. Cambridge Trust Co. acquired a new position in Elastic during the first quarter valued at approximately $130,000. Cetera Advisors LLC bought a new position in Elastic in the first quarter valued at approximately $435,000. Washington Harbour Partners LP acquired a new position in shares of Elastic during the 1st quarter worth approximately $1,443,000. Finally, LBP AM SA bought a new stake in shares of Elastic during the 1st quarter worth approximately $2,317,000. 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.