Elastic NV (NYSE:ESTC) CEO Sells $22,370,150.40 in Stock

Elastic NV (NYSE:ESTC) CEO Shay Banon sold 226,304 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $98.85, for a total transaction of $22,370,150.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

  • On Tuesday, July 30th, Shay Banon sold 273,696 shares of Elastic stock. The shares were sold at an average price of $99.34, for a total transaction of $27,188,960.64.
  • On Monday, June 10th, Shay Banon sold 200,000 shares of Elastic stock. The shares were sold at an average price of $79.69, for a total transaction of $15,938,000.00.

NYSE:ESTC opened at $94.33 on Monday. The firm’s 50 day moving average price is $85.97. Elastic NV has a 52 week low of $58.55 and a 52 week high of $104.10. The stock has a market capitalization of $7.35 billion and a PE ratio of -52.41.

Elastic (NYSE:ESTC) last issued its earnings results on Wednesday, June 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.17. The company had revenue of $80.60 million during the quarter, compared to analysts’ expectations of $75.79 million. The business’s quarterly revenue was up 62.5% compared to the same quarter last year. On average, equities research analysts expect that Elastic NV will post -2.17 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of ESTC. FIL Ltd boosted its holdings in Elastic by 203.3% in the first quarter. FIL Ltd now owns 3,750,978 shares of the company’s stock worth $299,591,000 after purchasing an additional 2,514,334 shares during the last quarter. FMR LLC boosted its holdings in Elastic by 110.7% in the first quarter. FMR LLC now owns 1,046,489 shares of the company’s stock worth $83,582,000 after purchasing an additional 549,862 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in Elastic by 229.4% in the second quarter. TimesSquare Capital Management LLC now owns 762,000 shares of the company’s stock worth $56,891,000 after purchasing an additional 530,700 shares during the last quarter. BlackRock Inc. purchased a new stake in Elastic in the fourth quarter worth approximately $30,062,000. Finally, First Trust Advisors LP purchased a new stake in Elastic in the second quarter worth approximately $16,634,000. Institutional investors own 40.59% of the company’s stock.

ESTC has been the topic of a number of recent analyst reports. Bank of America increased their price target on shares of Elastic from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Monness Crespi & Hardt reiterated a “buy” rating and set a $125.00 price target (up previously from $120.00) on shares of Elastic in a report on Thursday, June 6th. KeyCorp reiterated a “buy” rating and set a $102.00 price target on shares of Elastic in a report on Thursday, April 18th. Stifel Nicolaus initiated coverage on shares of Elastic in a report on Monday, May 13th. They set a “hold” rating and a $75.00 price target on the stock. Finally, Zacks Investment Research cut shares of Elastic from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $93.92.

About Elastic

Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.

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Insider Buying and Selling by Quarter for Elastic (NYSE:ESTC)

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