Shay Banon Sells 3,132 Shares of Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) CEO Shay Banon sold 3,132 shares of the stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $133.45, for a total transaction of $417,965.40. Following the completion of the transaction, the chief executive officer now owns 8,470,066 shares of the company’s stock, valued at $1,130,330,307.70. The sale was disclosed in a document filed with the SEC, which is available through this link.

Shares of ESTC opened at $135.09 on Friday. The stock has a market capitalization of $12.13 billion, a price-to-earnings ratio of -91.28 and a beta of 1.06. Elastic has a 12-month low of $78.00 and a 12-month high of $176.49. The company’s fifty day moving average is $119.63.

Elastic (NYSE:ESTC) last issued its earnings results on Tuesday, June 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.08. Elastic had a negative net margin of 21.27% and a negative return on equity of 23.24%. The firm had revenue of $177.60 million during the quarter, compared to analyst estimates of $158.87 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The business’s revenue was up 43.7% on a year-over-year basis. As a group, sell-side analysts predict that Elastic will post -1.67 earnings per share for the current fiscal year.

ESTC has been the subject of a number of analyst reports. Monness Crespi & Hardt raised their price objective on shares of Elastic from $200.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, June 3rd. Canaccord Genuity reduced their price target on shares of Elastic from $175.00 to $155.00 and set a “buy” rating for the company in a research note on Thursday, June 3rd. DA Davidson raised their price objective on shares of Elastic from $150.00 to $184.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. Barclays lowered their price target on shares of Elastic from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, June 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Elastic from $183.00 to $194.00 and gave the company an “outperform” rating in a research report on Thursday, June 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company. Elastic currently has a consensus rating of “Buy” and a consensus price target of $169.26.

A number of large investors have recently added to or reduced their stakes in ESTC. Amundi Pioneer Asset Management Inc. purchased a new stake in Elastic in the first quarter worth about $13,435,000. FWL Investment Management LLC purchased a new stake in shares of Elastic during the fourth quarter valued at about $2,116,000. Nisa Investment Advisors LLC purchased a new stake in shares of Elastic during the fourth quarter valued at about $91,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Elastic by 24.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,398 shares of the company’s stock valued at $1,081,000 after buying an additional 1,477 shares during the last quarter. Finally, AE Wealth Management LLC purchased a new stake in shares of Elastic during the fourth quarter valued at about $448,000. 76.70% of the stock is owned by institutional investors.

About Elastic

Elastic N.V., a search company, delivers technology that enables users to search through structured and unstructured data for a range of consumer and enterprise applications. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization.

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