Key Points
- Elastic CTO Shay Banon sold 6,201 shares at an average price of $85.19, generating $528,263.19. The sale covered tax-withholding obligations, reducing his stake by 0.15% to about 3.99 million shares.
- Banon has made several larger sales recently, including more than $13.5 million on September 9 and additional transactions totaling tens of millions of dollars since August 31.
- Elastic’s latest results exceeded expectations, with adjusted EPS of $0.70 and revenue of $478.1 million, while analysts maintain a “Moderate Buy” consensus and an average price target of $96.52.
Elastic N.V. (NYSE:ESTC - Get Free Report) CTO Shay Banon sold 6,201 shares of the business's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $85.19, for a total transaction of $528,263.19. Following the completion of the transaction, the chief technology officer owned 3,994,770 shares of the company's stock, valued at approximately $340,314,456.30. This trade represents a 0.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Shay Banon also recently made the following trade(s):
- On Wednesday, September 9th, Shay Banon sold 155,586 shares of Elastic stock. The shares were sold at an average price of $86.82, for a total value of $13,507,976.52.
- On Friday, September 4th, Shay Banon sold 80,583 shares of Elastic stock. The shares were sold at an average price of $92.65, for a total value of $7,466,014.95.
- On Thursday, September 3rd, Shay Banon sold 23,702 shares of Elastic stock. The stock was sold at an average price of $94.11, for a total value of $2,230,595.22.
- On Thursday, September 3rd, Shay Banon sold 180,000 shares of Elastic stock. The stock was sold at an average price of $94.07, for a total value of $16,932,600.00.
- On Wednesday, September 2nd, Shay Banon sold 165,171 shares of Elastic stock. The stock was 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 Monday, August 31st, Shay Banon sold 200,000 shares of Elastic stock. The shares were sold at an average price of $96.47, for a total value of $19,294,000.00.
Elastic Stock Performance
Shares of ESTC opened at $83.44 on Friday. Elastic N.V. has a 1 year low of $42.05 and a 1 year high of $108.00. The stock has a market capitalization of $8.76 billion, a PE ratio of 23.37, a PEG ratio of 8.09 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a 50-day simple moving average of $74.79 and a 200-day simple moving average of $61.07.
Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.12. The firm had revenue of $478.11 million for the quarter, compared to analyst estimates of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. 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, analysts predict that Elastic N.V. will post 0.56 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on ESTC shares. Royal Bank Of Canada raised their price objective on shares of Elastic from $70.00 to $87.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Cantor Fitzgerald boosted their target price on shares of Elastic from $91.00 to $100.00 and gave the stock a "neutral" rating in a research note on Friday, August 28th. TD Cowen raised their price target on Elastic from $55.00 to $70.00 and gave the company a "hold" rating in a research note on Tuesday, August 25th. Piper Sandler reaffirmed a "hold" rating on shares of Elastic in a report on Friday, August 28th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $96.52.
Read Our Latest Stock Report on ESTC
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new position in shares of Elastic in the 2nd quarter valued at $211,000. Engineers Gate Manager LP lifted its position in Elastic by 43.7% in the second quarter. Engineers Gate Manager LP now owns 129,697 shares of the company's stock valued at $7,395,000 after acquiring an additional 39,468 shares during the last quarter. Squarepoint Ops LLC lifted its position in Elastic by 1,139.5% in the second quarter. Squarepoint Ops LLC now owns 97,798 shares of the company's stock valued at $5,576,000 after acquiring an additional 89,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Elastic in the second quarter valued at $319,000. Finally, California State Teachers Retirement System boosted its stake in Elastic by 5,082.4% in the second quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company's stock valued at $309,031,000 after acquiring an additional 5,315,115 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.
Trending Headlines about Elastic
Here are the key news stories impacting Elastic this week:
- Positive Sentiment: Elastic introduced Elasticsearch Vector Database, a serverless offering designed for large-scale vector search and artificial-intelligence applications. The product is intended to simplify deployment, support hundreds of billions of vectors and strengthen Elastic’s position in the growing AI-search market. Elastic Introduces Serverless Vector Database
- Positive Sentiment: Wedbush began coverage with an “outperform” rating and a $125 price target, implying substantial upside from the recent trading level. The recommendation reflects optimism about Elastic’s AI, search and cloud growth opportunities.
- Positive Sentiment: Short interest dropped 39% between mid-August and August 31 to 3.87 million shares, or roughly 4.2% of shares outstanding. Reduced bearish positioning and only 1.1 days of short-interest coverage could provide technical support and limit short-selling pressure.
- Neutral Sentiment: Elastic’s latest quarterly results were strong, with $0.70 in adjusted EPS versus the $0.58 consensus and revenue of $478.1 million versus $469.8 million expected. Revenue grew 15.2% year over year, and fiscal 2027 EPS guidance was set at $3.29 to $3.37; however, these results were reported previously and may already be reflected in the stock’s valuation.
- Negative Sentiment: Several executives, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CRO Mark Dodds and CAO Jane Bone, sold shares on September 9. The sales totaled about 54,888 shares and $4.8 million, but were made to cover tax withholding on vested equity awards, making them less concerning than discretionary selling.
- Negative Sentiment: Repeated insider selling following a strong rally could still weigh on sentiment, particularly as investors assess whether the company’s AI-driven growth can justify its elevated valuation.
About Elastic
(
Get Free Report)
Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.
The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.
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