Elastic (NYSE:ESTC) CTO Shay Banon Sells 111,127 Shares of Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 111,127 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $92.60, for a total value of $10,290,360.20. Following the transaction, the chief technology officer directly owned 1,743,851 shares of the company’s stock, valued at $161,480,602.60. This represents a 5.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, September 2nd, Shay Banon sold 165,171 shares of Elastic stock. The stock was sold at an average price of $90.26, for a total transaction of $14,908,334.46.
• On Monday, August 31st, Shay Banon sold 200,000 shares of Elastic stock. The shares were sold at an average price of $96.47, for a total transaction of $19,294,000.00.
• On Tuesday, June 9th, Shay Banon sold 9,288 shares of Elastic stock. The stock was sold at an average price of $60.61, for a total transaction of $562,945.68.

Elastic Stock Down 3.2%

Shares of ESTC stock traded down $2.96 during trading hours on Wednesday, hitting $89.43. 2,407,438 shares of the company’s stock traded hands, compared to its average volume of 3,129,352. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $70.31 and its two-hundred day simple moving average is $59.69. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $108.00. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 8.95 and a beta of 1.03.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 27th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.58 by $0.12. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The business had revenue of $478.11 million for the quarter, compared to the consensus estimate of $469.75 million. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, analysts expect that Elastic N.V. will post 0.56 EPS for the current year.

Institutional Investors Weigh In On Elastic

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESTC. Amundi boosted its position in shares of Elastic by 37.2% in the first quarter. Amundi now owns 296,604 shares of the company’s stock worth $14,827,000 after purchasing an additional 80,441 shares during the period. Geode Capital Management LLC lifted its stake in shares of Elastic by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock valued at $130,124,000 after buying an additional 49,198 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Elastic by 21.8% in the 1st quarter. California State Teachers Retirement System now owns 104,579 shares of the company’s stock worth $5,228,000 after buying an additional 18,716 shares during the period. Temasek Holdings Private Ltd boosted its holdings in Elastic by 9.3% in the 4th quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock worth $97,654,000 after buying an additional 109,608 shares during the period. Finally, Legal & General Group Plc raised its holdings in Elastic by 15.6% during the fourth quarter. Legal & General Group Plc now owns 396,595 shares of the company’s stock valued at $29,919,000 after acquiring an additional 53,523 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial increased their price objective on shares of Elastic from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Robert W. Baird lifted their target price on shares of Elastic from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. Canaccord Genuity Group upped their target price on shares of Elastic from $80.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Weiss Ratings upgraded shares of Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. Finally, William Blair started coverage on shares of Elastic in a research report on Friday, May 22nd. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.12.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic’s earnings outlook is benefiting from upward estimate revisions, which could support the stock if analysts continue to raise forecasts. Can Elastic Run Higher on Rising Earnings Estimates?
• Positive Sentiment: RBC Capital initiated or reiterated a Buy rating, adding favorable sell-side support. Elastic Receives a Buy from RBC Capital
• Neutral Sentiment: Elastic delivered an earnings beat, highlighted growing enterprise adoption of its AI-powered search and cloud platform, and raised or maintained guidance pointing to continued fiscal 2027 growth. Still, DA Davidson remained Neutral, arguing that one strong quarter is not sufficient confirmation of the longer-term growth trajectory. Elastic Beat and Raised Guidance
• Negative Sentiment: CTO Shay Banon sold 476,298 shares across August 31 through September 2 for approximately $44.5 million, reducing his holdings by roughly 22% across the reported transactions. Additional sales by Chief Accounting Officer Jane Bone and insider Carolyn Herzog totaled about $1.3 million. The concentration of selling by senior insiders may reinforce profit-taking concerns, although the executives retain sizable positions. Elastic Insider Sale Filings
• Negative Sentiment: A separate analysis downgraded Elastic, reflecting concern that expectations and valuation may have moved ahead of fundamentals after the earnings-driven rally. Elastic Adjusting My Position After This Sprint

Elastic Company Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.