Elastic is trading 4.08% down at $92.21 after substantial insider selling disclosed on September 2, including CTO Shay Banon’s sale of 476,298 shares valued at $44.49 million. - The selling followed Elastic’s August 27 earnings beat and raised outlook, which had driven the recent rally. - The September 4 jobs report, higher Treasury yields, and increased Federal Reserve hike expectations are pressuring rate-sensitive software stocks. - No new earnings, product, or regulatory announcement was identified today.