Elastic (NYSE:ESTC) CTO Shay Banon Sells 140,129 Shares

Elastic (NYSE:ESTC) CTO Shay Banon sold 140,129 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the transaction, the chief technology officer now directly owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. The trade was a 5.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $2,888,420.04.

Elastic Stock Performance

NYSE:ESTC opened at $109.80 on Thursday. The firm has a market capitalization of $11.38 billion, a PE ratio of 199.64 and a beta of 1.20. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96. The firm has a 50-day moving average price of $106.28 and a 200 day moving average price of $95.43.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group increased their target price on shares of Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Oppenheimer increased their price objective on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Citigroup increased their price target on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Guggenheim boosted 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 analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.52.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ESTC. Vanguard Group Inc. grew its holdings in shares of Elastic by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company’s stock worth $926,607,000 after purchasing an additional 168,483 shares during the last quarter. FMR LLC boosted its position in Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after buying an additional 1,115,750 shares in the last quarter. Sylebra Capital LLC grew its stake in Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock worth $451,950,000 after buying an additional 1,756,842 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock worth $339,820,000 after buying an additional 462,974 shares in the last quarter. Finally, Atreides Management LP raised its stake in shares of Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after acquiring an additional 614,309 shares during the last quarter. 97.03% of the stock is owned by 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.