Elastic (NYSE:ESTC) CTO Shay Banon Sells 2,683 Shares

Elastic (NYSE:ESTC) CTO Shay Banon sold 2,683 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $243,562.74. Following the transaction, the chief technology officer now owns 4,535,456 shares in the company, valued at approximately $411,728,695.68. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, March 4th, Shay Banon sold 140,129 shares of Elastic stock. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72.
• On Sunday, March 2nd, Shay Banon sold 25,668 shares of Elastic stock. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04.

Elastic Stock Down 7.2 %

Shares of ESTC opened at $91.49 on Friday. The firm has a market cap of $9.55 billion, a P/E ratio of 166.35 and a beta of 1.20. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The stock’s 50 day moving average is $105.96 and its two-hundred day moving average is $95.10. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC) last announced its earnings results 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 company had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESTC. M&T Bank Corp raised its position in shares of Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after buying an additional 139 shares during the last quarter. Sigma Planning Corp lifted its stake in Elastic by 3.7% in the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after purchasing an additional 139 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Elastic by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after purchasing an additional 151 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Elastic by 7.0% in the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ESTC has been the topic of several research reports. UBS Group upped their target price on Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Piper Sandler increased their price objective on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Royal Bank of Canada upped their target price on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group raised their price target on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Seven equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.52.

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.