Elastic (NYSE:ESTC) CTO Shay Banon Sells 165,171 Shares

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 165,171 shares of Elastic stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $90.26, for a total transaction of $14,908,334.46. Following the sale, the chief technology officer owned 1,578,680 shares of the company’s stock, valued at approximately $142,491,656.80. This represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, September 1st, Shay Banon sold 111,127 shares of Elastic stock. The stock was 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.
• On Tuesday, June 9th, Shay Banon sold 9,288 shares of Elastic stock. The stock was sold at an average price of $60.61, for a total value of $562,945.68.

Elastic Trading Down 3.2%

ESTC opened at $89.43 on Thursday. Elastic N.V. has a 52 week low of $42.05 and a 52 week high of $108.00. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $70.31 and a 200-day simple moving average of $59.69. The firm has a market cap of $9.39 billion, a P/E ratio of 25.05, a P/E/G ratio of 8.95 and a beta of 1.03.

Elastic (NYSE:ESTC) last posted 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. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $469.75 million. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, equities analysts expect that Elastic N.V. will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On Elastic

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Elastic by 153.4% in the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after buying an additional 4,567,720 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Elastic by 43.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after buying an additional 1,958,219 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Elastic by 5,082.4% during the 2nd quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock worth $309,031,000 after acquiring an additional 5,315,115 shares in the last quarter. FIL Ltd boosted its position in shares of Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after acquiring an additional 977,578 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after acquiring an additional 2,201,140 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ESTC. Wells Fargo & Company lifted their price objective on shares of Elastic from $60.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, August 25th. Jefferies Financial Group raised their price target on shares of Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Wall Street Zen downgraded shares of Elastic from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Morgan Stanley upped their price objective on Elastic from $66.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 28th. Finally, Wedbush reduced their price objective on Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $94.12.

More Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic’s earnings outlook is benefiting from upward estimate revisions, which could support the stock if analysts continue to raise forecasts. Can Elastic Run Higher on Rising Earnings Estimates?
• Positive Sentiment: RBC Capital initiated or reiterated a Buy rating, adding favorable sell-side support. Elastic Receives a Buy from RBC Capital
• Neutral Sentiment: Elastic delivered an earnings beat, highlighted growing enterprise adoption of its AI-powered search and cloud platform, and raised or maintained guidance pointing to continued fiscal 2027 growth. Still, DA Davidson remained Neutral, arguing that one strong quarter is not sufficient confirmation of the longer-term growth trajectory. Elastic Beat and Raised Guidance
• Negative Sentiment: CTO Shay Banon sold 476,298 shares across August 31 through September 2 for approximately $44.5 million, reducing his holdings by roughly 22% across the reported transactions. Additional sales by Chief Accounting Officer Jane Bone and insider Carolyn Herzog totaled about $1.3 million. The concentration of selling by senior insiders may reinforce profit-taking concerns, although the executives retain sizable positions. Elastic Insider Sale Filings
• Negative Sentiment: A separate analysis downgraded Elastic, reflecting concern that expectations and valuation may have moved ahead of fundamentals after the earnings-driven rally. Elastic Adjusting My Position After This Sprint

Elastic Company Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.