Insider Selling: Elastic (NYSE:ESTC) CTO 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 of the company’s stock, valued at $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 at 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 Up 1.7 %

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

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. As a group, equities research analysts anticipate that Elastic will post -0.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ESTC shares. Royal Bank of Canada increased their price objective on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Bank of America increased their target price on Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. UBS Group increased their target price on Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 28th. Scotiabank increased their target price on Elastic from $127.00 to $140.00 and gave the company a “sector outperform” rating in a report on Friday, February 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Seven investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.52.

Institutional Investors Weigh In On Elastic

Several hedge funds have recently made changes to their positions in the stock. M&T Bank Corp lifted its stake in shares of Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after buying an additional 139 shares during the period. Sigma Planning Corp lifted its stake in Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after purchasing an additional 139 shares during the period. CIBC Asset Management Inc lifted its stake in Elastic by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after purchasing an additional 151 shares during the period. Smartleaf Asset Management LLC lifted its stake in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after purchasing an additional 201 shares during the period. 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.