Insider Selling: Elastic (NYSE:ESTC) CTO Sells $7,466,014.95 in Stock

Elastic N.V. (NYSE:ESTC) CTO Shay Banon sold 80,583 shares of Elastic stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $92.65, for a total value of $7,466,014.95. Following the completion of the sale, the chief technology officer directly owned 4,156,557 shares in the company, valued at approximately $385,105,006.05. This represents a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 shares were 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 shares were 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 stock was 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 stock was sold at an average price of $96.47, for a total value of $19,294,000.00.

Elastic Trading Down 3.6%

NYSE ESTC opened at $83.45 on Friday. The company has a market cap of $8.76 billion, a PE ratio of 23.38, a PEG ratio of 8.39 and a beta of 1.03. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $108.00. The stock has a 50 day moving average of $74.28 and a 200-day moving average of $60.91.

Elastic (NYSE:ESTC) last issued 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 business had revenue of $478.11 million for the quarter, compared to the consensus estimate of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company 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, equities research analysts anticipate that Elastic N.V. will post 0.56 EPS for the current fiscal year.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Short interest fell 39% to 3.87 million shares as of August 31, equal to about 4.2% of outstanding shares and only 1.1 days of average trading volume. The decline suggests reduced bearish positioning and could provide technical support for Elastic stock.
• Positive Sentiment: Elastic’s latest quarterly results exceeded expectations, with earnings of $0.70 per share versus the $0.58 consensus and revenue of $478.1 million versus estimates of $469.8 million. Revenue increased 15.2% year over year, while management issued fiscal 2027 EPS guidance of $3.29 to $3.37.
• Positive Sentiment: Wall Street remains broadly constructive, with a consensus “Moderate Buy” rating and an average price target of $94.12. Oppenheimer recently raised its target to $118 and maintained an “outperform” rating, reflecting optimism about Elastic’s AI-search and enterprise software opportunities. Elastic’s 2026 Outlook: AI Search Integration Fuels Enterprise Customer Retention
• Neutral Sentiment: Institutional ownership remains high at approximately 97%. Several funds increased their positions during the second quarter, including California State Teachers’ Retirement System and Squarepoint Ops, indicating continued institutional interest, although these holdings may reflect earlier investment decisions.
• Negative Sentiment: Multiple executives sold shares after Elastic’s recent rally. CEO Ashutosh Kulkarni, CFO Navam Welihinda, CRO Mark Dodds, CAO Jane Bone and insider Carolyn Herzog collectively sold 54,888 shares for about $4.8 million on September 9. The transactions were made to cover tax withholding tied to vested equity awards, which makes them less bearish than discretionary sales but can still weigh on sentiment.
• Negative Sentiment: CTO Shay Banon has conducted a much larger series of sales, including 80,583 shares for approximately $7.5 million on September 4 and additional sales totaling hundreds of thousands of shares in late August and early September. Although he retained more than 4.1 million shares, the repeated selling may raise concerns about insider conviction following the stock’s strong advance. Elastic CTO Shay Banon Sells 80,583 Shares of Stock

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. bought a new stake in shares of Elastic during the second quarter worth approximately $31,000. Bessemer Group Inc. acquired a new stake in Elastic during the 1st quarter worth approximately $25,000. Aster Capital Management DIFC Ltd boosted its stake in Elastic by 206.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after purchasing an additional 371 shares during the period. Basecamp Wealth Advisors LLC bought a new stake in Elastic in the 1st quarter valued at $28,000. Finally, Quarry LP grew its holdings in Elastic by 16,200.0% in the 4th quarter. Quarry LP now owns 652 shares of the company’s stock valued at $49,000 after buying an additional 648 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ESTC. Jefferies Financial Group lifted their price target on Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 28th. JPMorgan Chase & Co. upped their price objective on Elastic from $93.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. UBS Group raised their price objective on Elastic from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Cantor Fitzgerald lifted their target price on Elastic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Finally, DA Davidson boosted their target price on Elastic from $60.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.12.

Elastic Company Profile

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.