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

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 sale, the chief technology officer now owns 4,535,456 shares in the company, valued at $411,728,695.68. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 value of $14,948,961.72.
• 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 $91.49 on Friday. The stock has a market capitalization of $9.55 billion, a PE ratio of 166.35 and a beta of 1.20. The company has a 50 day moving average price of $105.96 and a 200-day moving average price of $95.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96.

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). The company had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Equities analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

Institutional Trading of Elastic

Several hedge funds have recently modified their holdings of ESTC. SBI Securities Co. Ltd. purchased a new position in shares of Elastic in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new stake in Elastic during the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in Elastic in the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC grew its holdings in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ESTC has been the topic of several recent research reports. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group increased their target price on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 target price on shares of Elastic in a report on Tuesday, February 25th. Jefferies Financial Group upped their price target on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Guggenheim raised their price objective on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Seven 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 data from MarketBeat.com, the company currently has an average 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.