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

Elastic (NYSE:ESTC) CTO Shay Banon sold 140,129 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was 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 owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This trade represents a 5.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Sunday, March 2nd, Shay Banon sold 25,668 shares of Elastic stock. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04.

Elastic Stock Performance

Shares of ESTC stock opened at $109.80 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company’s 50 day moving average price is $106.28 and its two-hundred day moving average price is $95.43. The company has a market capitalization of $11.38 billion, a P/E ratio of 199.64 and a beta of 1.20.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The company had revenue of $382.08 million for 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%. On average, analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ESTC shares. UBS Group boosted their price objective 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. DA Davidson boosted their target price on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus lifted their price objective on Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley raised their target price on shares of Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Institutional Trading of Elastic

Institutional investors have recently modified their holdings of the company. Sylebra Capital LLC grew its holdings in shares of 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 in the last quarter. FMR LLC boosted its position in Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after acquiring an additional 1,115,750 shares during the last quarter. Norges Bank bought a new position in shares of Elastic during the 4th quarter worth approximately $102,485,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Elastic by 5,972.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock valued at $73,751,000 after purchasing an additional 732,100 shares during the last quarter. Finally, Atreides Management LP raised its holdings 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 purchasing an additional 614,309 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic Company Profile

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.