Elastic (NYSE:ESTC) CTO Shay Banon Sells 200,000 Shares

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 200,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $96.47, for a total transaction of $19,294,000.00. Following the completion of the transaction, the chief technology officer directly owned 1,854,978 shares in the company, valued at approximately $178,949,727.66. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, September 2nd, Shay Banon sold 165,171 shares of Elastic stock. The shares were sold at an average price of $90.26, for a total value of $14,908,334.46.
• On Tuesday, September 1st, Shay Banon sold 111,127 shares of Elastic stock. The shares were sold at an average price of $92.60, for a total value of $10,290,360.20.
• 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%

NYSE ESTC traded down $2.96 on Wednesday, reaching $89.43. 2,407,438 shares of the company were exchanged, compared to its average volume of 3,129,352. Elastic N.V. has a fifty-two week low of $42.05 and a fifty-two week high of $108.00. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average price is $70.31 and its 200 day moving average price is $59.69. The stock has a market capitalization of $9.39 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 8.95 and a beta of 1.03.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.12. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The firm had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $469.75 million. During the same quarter in the previous year, the company posted $0.60 EPS. The company’s 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. Analysts forecast that Elastic N.V. will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On Elastic

Several large investors have recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. acquired a new position in shares of Elastic during the 2nd quarter valued at $31,000. Bessemer Group Inc. purchased a new position in Elastic in the 1st quarter worth approximately $25,000. Aster Capital Management DIFC Ltd lifted its position in shares of Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock worth $42,000 after purchasing an additional 371 shares during the last quarter. Basecamp Wealth Advisors LLC bought a new stake in shares of Elastic during the 1st quarter valued at about $28,000. Finally, Quarry LP lifted its stake in Elastic by 16,200.0% in the fourth quarter. Quarry LP now owns 652 shares of the company’s stock valued at $49,000 after buying an additional 648 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Elastic

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

Analyst Ratings Changes

A number of research analysts recently weighed in on ESTC shares. Morgan Stanley lifted their price objective on shares of Elastic from $66.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. Cantor Fitzgerald raised their price objective on shares of Elastic from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Citigroup lifted their price objective on Elastic from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Zacks Research raised Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. Finally, Jefferies Financial Group raised their target price on shares of Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.12.

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.