A director-affiliated entity proposing to sell ~$191M in stock is a material insider distribution. Monitor for actual execution via Form 4 filings; if the full amount is sold, it would reduce director-affiliated ownership significantly and could pressure the stock near-term.
Price Chart
Executive Summary
CMXI B.V., an entity controlled by Elastic co-founder and director Steven Schuurman, filed a Form 144 on October 13, 2026, indicating intent to sell up to 2,000,000 ordinary shares of Elastic N.V. (ESTC) through Goldman Sachs. At the filing date, the proposed sale value was approximately $191 million based on a $95.52 reference price. The shares were acquired in 2015 and 2020 via corporate transactions. The filing signals a large insider distribution by a director-affiliated entity.
Key Facts
- CMXI B.V., controlled by director Steven Schuurman, filed to sell up to 2,000,000 ordinary shares.
- Proposed sale value: ~$191 million (2,000,000 shares × $95.52 reference price).
- CMXI B.V. holds 10,499,280 shares total; the proposed sale represents ~19% of its holdings.
- Shares were acquired in 2015 (7,290,000 shares for EUR 7,290) and 2020 (5,186,000 shares for EUR 0 via merger).
- Filing date: October 13, 2026; intended submission date was October 12, 2026 (delayed due to federal holiday).
- Goldman Sachs & Co. LLC is the broker for the proposed sale.
Financial Impact
Proposed sale of 2,000,000 shares valued at ~$191 million, representing ~19% of CMXI B.V.'s reported holdings.
Risk Factors
- Large insider sale by a director-affiliated entity may signal lack of confidence or portfolio diversification.
- Proposed sale represents ~19% of CMXI B.V.'s holdings, a substantial reduction.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001958244-26-000656 |
| Document: 0001958244-26-000656-index.html | 0001958244-26-000656 |
| Document: 0001958244-26-000656.txt | 0001958244-26-000656 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 3 | $95.63 $98.81 | ▲ +3.33% | ▲ +2.80% | $106.29 (+11.15%) |
Oct 13, 2026 13d ago | 144 | $94.32 $92.06 | ▲ +2.40% | ▲ +1.32% | $106.29 (−12.69%) |
Oct 6, 2026 20d ago | SC 13D | $94.60 $93.10 | ▼ −1.59% | ▼ −1.35% | $106.29 (+12.36%) |
Sep 15, 2026 5w ago | Insider Cluster | $85.03 $88.97 | ▲ +4.63% | ▲ +3.50% | $106.29 (+25.00%) |
Sep 11, 2026 6w ago | Insider Cluster | $85.11 $85.16 | ▲ +0.06% | ▲ +0.52% | $106.29 (+24.89%) |
Sep 10, 2026 6w ago | Insider Cluster | $83.39 $85.11 | ▲ +2.06% | ▲ +2.51% | $106.29 (+27.46%) |
Sep 9, 2026 6w ago | 144 | $83.48 $83.39 | ▼ −0.11% | ▼ −0.96% | $106.29 (+27.32%) |
Sep 8, 2026 6w ago | Insider Cluster | $86.58 $83.48 | ▲ +3.58% | ▲ +2.98% | $106.29 (−22.77%) |
Sep 2, 2026 7w ago | Insider Cluster | $96.04 $91.58 | ▼ −4.64% | ▼ −4.26% | $106.29 (+10.67%) |
Jun 24, 2026 17w ago | 8-K | $53.60 $56.24 | ▲ +4.93% | ▲ +5.65% | $106.29 (+98.30%) |
US Market Status
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