Elastic (NYSE:ESTC) CTO Shay Banon Sells 2,683 Shares

Elastic (NYSE:ESTC) CTO Shay Banon sold 2,683 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $243,562.74. Following the completion of the transaction, the chief technology officer now owns 4,535,456 shares in the company, valued at approximately $411,728,695.68. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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 stock was sold at an average price of $106.68, for a total value of $14,948,961.72.
• On Sunday, March 2nd, Shay Banon sold 25,668 shares of Elastic stock. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04.

Elastic Price Performance

NYSE ESTC traded up $1.52 during trading hours on Wednesday, reaching $98.61. The company’s stock had a trading volume of 1,449,190 shares, compared to its average volume of 1,303,549. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company’s 50-day moving average is $105.97 and its two-hundred day moving average is $95.07. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The stock has a market cap of $10.30 billion, a PE ratio of 179.30 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ESTC shares. Citigroup lifted their target price on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Barclays lifted their price objective on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Elastic in a report on Tuesday, February 25th. Finally, DA Davidson boosted their price target on shares of Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.52.

Hedge Funds Weigh In On Elastic

Hedge funds have recently bought and sold shares of the stock. Slow Capital Inc. purchased a new stake in shares of Elastic in the fourth quarter valued at $5,039,000. Wealth Effects LLC raised its stake in Elastic by 25.4% in the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after purchasing an additional 5,830 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in Elastic in the 3rd quarter valued at about $585,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Elastic by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after purchasing an additional 14,590 shares during the last quarter. Finally, Bangor Savings Bank acquired a new stake in shares of Elastic during the 4th quarter worth about $1,657,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.