Elastic CTO Banon Shay Sells $44.5M in Ordinary Shares Over Three Days
ESTC has more than doubled off its 52-week low of $42.05.
Summary
Elastic N.V. CTO Banon Shay sold $44.5 million worth of ordinary shares over three days, adding to a 90-day insider distribution trend.
Key Events · Ownership and Investor Activity · ESTC
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CTO Sells $44.5M in Ordinary Shares
Banon Shay, Chief Technology Officer and Director, sold 476,298 ordinary shares for $44,492,543.45 across 8 open-market transactions from August 31 to September 2, 2026.
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Sales Executed at Declining Prices
Transaction prices ranged from $89.71 to $97.75, with the weighted average price falling from $96.17 on August 31 to $89.71 on September 2, suggesting selling pressure during the period.
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Indirect Holdings via Children's Fund
The sold shares were held indirectly through a fund for the CTO's three minor children, over which Shay retains sole control and beneficial ownership.
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Post-Transaction Ownership
After the sales, Shay holds 1,946,555 shares indirectly and 4,417,140 shares directly, retaining a substantial equity stake.
Analysis · ESTC · Technology
Chief Technology Officer Banon Shay disposed of 476,298 ordinary shares for approximately $44.5 million across eight open-market transactions between August 31 and September 2, 2026. The sales were executed at prices ranging from $89.71 to $97.75, with the weighted average price declining over the three-day period. This is a significant insider distribution by a key technology executive, though the shares were held indirectly through a fund for the CTO's minor children, which may reduce the signal strength compared to a direct personal sale. The transaction represents roughly 0.47% of the company's market capitalization and adds to a broader pattern of insider selling over the past 90 days, during which insiders have sold approximately $7.4 million more than they have purchased.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 30.5% of the 1993 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.21%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ESTC was trading at $90.65 on NYSE in the Technology sector, with a market capitalization of approximately $9.4B. The 52-week trading range was $42.05 to $108.00. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.