Elastic CTO Shay Banon Files to Sell Another 180,000 Shares (~$16.9M)
ESTC has more than doubled off its 52-week low of $42.05.
Summary
Elastic CTO Shay Banon filed a Form 144 to sell 180,000 shares (~$16.9M), extending a heavy insider selling streak that already totaled $44.5M in the prior three days.
Key Events · Ownership and Investor Activity · ESTC
-
CTO Files to Sell 180,000 Shares
Shay Banon filed a Form 144 to sell 180,000 shares worth approximately $16.9 million, with an approximate sale date of 09/03/2026.
-
Extends Heavy Insider Selling
This follows a Form 4 filed 2026-09-02 showing Banon sold $44.5 million over three days, bringing the 90-day insider distribution to over $51 million with zero insider buys.
-
Founder Stock Disposition
The shares were acquired as founder stock on 09/24/2012, indicating a long-held position being monetized.
-
Prior-Disclosure Context
The 90-day insider activity signal is DISTRIBUTION with net sales of $51,862,857 across 7 active insiders, reflecting broad-based selling pressure.
Analysis · ESTC · Technology
CTO Shay Banon has filed a Form 144 to sell 180,000 shares worth approximately $16.9 million, just one day after a Form 4 disclosed he sold $44.5 million over three days. This adds to a 90-day insider distribution pattern totaling over $51 million in open-market sales with no insider buys. The continued selling by a top executive is a notable negative signal for investor sentiment, though the dollar amount is modest relative to Elastic's ~$10 billion market cap.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 30.2% of the 1961 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.20%. 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 $96.13 on NYSE in the Technology sector, with a market capitalization of approximately $10.1B. 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.