Elastic (NYSE:ESTC) CTO Shay Banon Sells 4,552 Shares of Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 4,552 shares of Elastic stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $341,627.60. Following the completion of the transaction, the chief technology officer directly owned 4,359,228 shares in the company, valued at approximately $327,160,061.40. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Elastic Trading Up 5.5%

Shares of Elastic stock opened at $78.83 on Thursday. Elastic N.V. has a 1 year low of $68.10 and a 1 year high of $118.84. The company’s fifty day simple moving average is $82.74 and its 200-day simple moving average is $83.82. The company has a market cap of $8.31 billion, a price-to-earnings ratio of -76.54 and a beta of 0.97. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, November 20th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.58 by $0.06. The firm had revenue of $423.48 million during the quarter, compared to analysts’ expectations of $418.27 million. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. As a group, sell-side analysts expect that Elastic N.V. will post -0.77 EPS for the current year.

Elastic declared that its board has approved a stock repurchase plan on Thursday, October 9th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Elastic

A number of large investors have recently bought and sold shares of ESTC. Geneos Wealth Management Inc. acquired a new position in Elastic in the second quarter worth $31,000. Huntington National Bank lifted its position in Elastic by 97.5% during the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after buying an additional 231 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after acquiring an additional 152 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Elastic during the 2nd quarter worth about $40,000. Finally, Promus Capital LLC bought a new position in shares of Elastic in the second quarter worth about $45,000. 97.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ESTC has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research report on Friday, October 10th. Stifel Nicolaus decreased their price target on shares of Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Royal Bank Of Canada lowered their price target on shares of Elastic from $125.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. DA Davidson reduced their price objective on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Finally, Cowen reissued a “hold” rating on shares of Elastic in a research note on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and an average price target of $107.25.

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.