Insider Selling: Elastic (NYSE:ESTC) CTO Sells 140,129 Shares of Stock

Elastic (NYSE:ESTC) CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the completion of the transaction, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at $240,561,053.04. This represents a 5.85 % 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 the SEC website.

Shay Banon also recently made the following trade(s):

• On Sunday, March 2nd, Shay Banon sold 25,668 shares of Elastic stock. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04.

Elastic Price Performance

Shares of ESTC opened at $94.94 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a 50 day simple moving average of $106.32 and a 200 day simple moving average of $95.56. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The firm has a market capitalization of $9.84 billion, a PE ratio of 172.61 and a beta of 1.20.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Sell-side analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ESTC shares. Barclays lifted their price target on Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, November 25th. The Goldman Sachs Group lifted their price objective on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Bank of America lifted their price objective on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Wedbush lowered Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Institutional Investors Weigh In On Elastic

Institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in Elastic in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new stake in Elastic in the 4th quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new stake in Elastic in the 4th quarter valued at approximately $26,000. Venturi Wealth Management LLC lifted its stake in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares in the last quarter. Institutional investors 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.