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

Elastic (NYSE:ESTC) CTO Shay Banon sold 25,668 shares of the stock in a transaction on 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. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 value of $14,948,961.72.

Elastic Stock Performance

ESTC opened at $109.80 on Thursday. The business’s 50 day moving average is $106.28 and its 200-day moving average is $95.43. The stock has a market cap of $11.38 billion, a PE ratio of 199.64 and a beta of 1.20. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The business 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%. On average, analysts predict that Elastic will post -0.77 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup increased their target price on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company raised their price objective on Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. UBS Group raised their price objective on Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Piper Sandler raised their price objective on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group lifted their target price on Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.52.

Institutional Investors Weigh In On Elastic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Elastic in the fourth quarter worth approximately $3,558,000. Jefferies Financial Group Inc. acquired a new stake in Elastic in the fourth quarter worth approximately $456,000. Infinitum Asset Management LLC acquired a new stake in Elastic in the fourth quarter worth approximately $6,936,000. Public Employees Retirement System of Ohio lifted its position in Elastic by 1.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 29,907 shares of the company’s stock worth $2,963,000 after purchasing an additional 359 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in Elastic in the fourth quarter worth approximately $26,000. 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.