Elastic (NYSE:ESTC) CTO Shay Banon Sells 25,668 Shares

Elastic (NYSE:ESTC) CTO Shay Banon sold 25,668 shares of the company’s stock in a transaction dated Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04. Following the sale, the chief technology officer now owns 2,408,541 shares in the company, valued at approximately $271,033,118.73. The trade was a 1.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72.

Elastic Stock Down 4.4 %

Shares of NYSE:ESTC opened at $94.94 on Friday. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The company has a market capitalization of $9.84 billion, a PE ratio of 172.61 and a beta of 1.20. The business has a fifty day moving average price of $106.32 and a two-hundred day moving average price of $95.56. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share 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%. Analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

ESTC has been the subject of a number of research reports. Bank of America raised their price target on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Citigroup boosted their target price on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Robert W. Baird upped their price target on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Barclays upped their target price on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Elastic has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

Institutional Investors Weigh In On Elastic

A number of hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. bought a new position in Elastic during the fourth quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Elastic during the 4th quarter valued at $25,000. Fourth Dimension Wealth LLC bought a new position in shares of Elastic during the 4th quarter worth $26,000. Venturi Wealth Management LLC increased its holdings in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares during the period. Institutional investors own 97.03% of the company’s stock.

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.