Elastic (NYSE:ESTC) CTO Sells $13,507,976.52 in Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 155,586 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $86.82, for a total transaction of $13,507,976.52. Following the transaction, the chief technology officer directly owned 4,000,971 shares of the company’s stock, valued at $347,364,302.22. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, September 10th, Shay Banon sold 6,201 shares of Elastic stock. The shares were sold at an average price of $85.19, for a total transaction of $528,263.19.
• On Friday, September 4th, Shay Banon sold 80,583 shares of Elastic stock. The stock was sold at an average price of $92.65, for a total transaction of $7,466,014.95.
• On Thursday, September 3rd, Shay Banon sold 23,702 shares of Elastic stock. The stock was sold at an average price of $94.11, for a total transaction of $2,230,595.22.
• On Thursday, September 3rd, Shay Banon sold 180,000 shares of Elastic stock. The shares were sold at an average price of $94.07, for a total transaction of $16,932,600.00.
• On Wednesday, September 2nd, Shay Banon sold 165,171 shares of Elastic stock. The shares were sold at an average price of $90.26, for a total transaction of $14,908,334.46.
• On Tuesday, September 1st, Shay Banon sold 111,127 shares of Elastic stock. The shares were sold at an average price of $92.60, for a total transaction of $10,290,360.20.
• On Monday, August 31st, Shay Banon sold 200,000 shares of Elastic stock. The stock was sold at an average price of $96.47, for a total value of $19,294,000.00.

Elastic Stock Performance

Shares of NYSE ESTC traded down $0.04 during trading on Friday, reaching $83.44. 2,354,723 shares of the company traded hands, compared to its average volume of 2,177,464. The firm’s fifty day simple moving average is $74.28 and its 200 day simple moving average is $60.91. The stock has a market cap of $8.76 billion, a P/E ratio of 23.37, a PEG ratio of 8.39 and a beta of 1.03. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $108.00. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.12. The business had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, research analysts anticipate that Elastic N.V. will post 0.56 earnings per share for the current fiscal year.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic introduced Elasticsearch Vector Database, a serverless offering designed for large-scale vector search and artificial-intelligence applications. The product is intended to simplify deployment, support hundreds of billions of vectors and strengthen Elastic’s position in the growing AI-search market. Elastic Introduces Serverless Vector Database
• Positive Sentiment: Wedbush began coverage with an “outperform” rating and a $125 price target, implying substantial upside from the recent trading level. The recommendation reflects optimism about Elastic’s AI, search and cloud growth opportunities.
• Positive Sentiment: Short interest dropped 39% between mid-August and August 31 to 3.87 million shares, or roughly 4.2% of shares outstanding. Reduced bearish positioning and only 1.1 days of short-interest coverage could provide technical support and limit short-selling pressure.
• Neutral Sentiment: Elastic’s latest quarterly results were strong, with $0.70 in adjusted EPS versus the $0.58 consensus and revenue of $478.1 million versus $469.8 million expected. Revenue grew 15.2% year over year, and fiscal 2027 EPS guidance was set at $3.29 to $3.37; however, these results were reported previously and may already be reflected in the stock’s valuation.
• Negative Sentiment: Several executives, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CRO Mark Dodds and CAO Jane Bone, sold shares on September 9. The sales totaled about 54,888 shares and $4.8 million, but were made to cover tax withholding on vested equity awards, making them less concerning than discretionary selling.
• Negative Sentiment: Repeated insider selling following a strong rally could still weigh on sentiment, particularly as investors assess whether the company’s AI-driven growth can justify its elevated valuation.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ESTC shares. Robert W. Baird lifted their target price on shares of Elastic from $95.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Stifel Nicolaus increased their price target on shares of Elastic from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Wolfe Research set a $55.00 price target on shares of Elastic in a research report on Friday, May 29th. UBS Group lifted their price objective on shares of Elastic from $85.00 to $105.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, DA Davidson upped their price objective on shares of Elastic from $60.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $96.52.

Hedge Funds Weigh In On Elastic

A number of hedge funds have recently made changes to their positions in the company. Focus Partners Wealth acquired a new stake in shares of Elastic in the first quarter worth approximately $494,000. Northwestern Mutual Wealth Management Co. raised its stake in Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after purchasing an additional 171 shares during the last quarter. Invesco Ltd. raised its stake in Elastic by 11.7% in the 2nd quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock valued at $8,039,000 after purchasing an additional 9,990 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Elastic by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock valued at $178,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Elastic by 24.7% in the 2nd quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock valued at $2,576,000 after purchasing an additional 6,056 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

About Elastic

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.