Elastic CTO Banon Shay Sells Another $26.6M in Shares
ESTC has more than doubled off its 52-week low of $42.05.
Summary
Elastic CTO Banon Shay sold $26.6 million in ordinary shares on September 3-4, extending a heavy insider selling streak that now totals over $70 million in 90 days.
Key Events · Ownership and Investor Activity · ESTC
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CTO Sells $26.6M in Shares
Banon Shay sold 284,285 ordinary shares at prices ranging from $92.39 to $95.06 on September 3-4, 2026, for total proceeds of $26,628,994.
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Extends Heavy Insider Selling
This sale follows a $44.5M sale disclosed on September 2 and a Form 144 for 180,000 shares filed September 3, bringing Shay's 90-day open-market selling to over $70M.
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Post-Sale Holdings
Shay retains 4,350,758 ordinary shares after these transactions, including 260,583 held directly and 23,702 held indirectly via a fund for his minor children.
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Broader Insider Distribution
Elastic insiders have sold $51.9M in open-market shares over the past 90 days with zero open-market purchases, indicating a distribution pattern across the executive team.
Analysis · ESTC · Technology
CTO Banon Shay sold $26.6 million of Elastic stock on September 3-4, adding to the $44.5 million he sold just days earlier. This brings his 90-day open-market selling to over $70 million, part of a broader insider distribution pattern at Elastic. While the sales are large, they represent less than 0.3% of the company's market cap and follow a strong Q1 earnings report, suggesting profit-taking rather than distress.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30.1% of the 2014 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.11%. 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 $88.11 on NYSE in the Technology sector, with a market capitalization of approximately $9.3B. 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.