Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni Sells 29,227 Shares

by · The Markets Daily

Elastic N.V. (NYSE:ESTC – Get Free Report) CEO Ashutosh Kulkarni sold 29,227 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total transaction of $2,565,546.06. Following the sale, the chief executive officer directly owned 599,525 shares of the company’s stock, valued at approximately $52,626,304.50. The trade was a 4.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Stock Performance

NYSE:ESTC opened at $83.45 on Friday. The stock has a market capitalization of $8.76 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 8.39 and a beta of 1.03. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. Elastic N.V. has a 1 year low of $42.05 and a 1 year high of $108.00. The firm has a 50 day moving average of $74.28 and a 200-day moving average of $60.91.

Elastic (NYSE:ESTC – Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $469.75 million. During the same period in the prior year, the company earned $0.60 EPS. Elastic’s revenue for the quarter was up 15.2% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, sell-side analysts anticipate that Elastic N.V. will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Elastic

Several hedge funds have recently added to or reduced their stakes in ESTC. Amundi raised its stake in Elastic by 37.2% during the 1st quarter. Amundi now owns 296,604 shares of the company’s stock worth $14,827,000 after buying an additional 80,441 shares during the period. California State Teachers Retirement System lifted its holdings in Elastic by 21.8% during the first quarter. California State Teachers Retirement System now owns 104,579 shares of the company’s stock worth $5,228,000 after acquiring an additional 18,716 shares in the last quarter. Geode Capital Management LLC grew its stake in Elastic by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock valued at $130,124,000 after acquiring an additional 49,198 shares during the period. Temasek Holdings Private Ltd increased its holdings in shares of Elastic by 9.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock worth $97,654,000 after acquiring an additional 109,608 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Elastic by 15.6% in the fourth quarter. Legal & General Group Plc now owns 396,595 shares of the company’s stock worth $29,919,000 after acquiring an additional 53,523 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Jefferies Financial Group lifted their price target on Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 28th. TD Cowen raised their price objective on shares of Elastic from $55.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, August 25th. Morgan Stanley boosted their target price on shares of Elastic from $66.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. Robert W. Baird upped their target price on shares of Elastic from $95.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Elastic from $93.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.12.

Check Out Our Latest Stock Analysis on Elastic

Trending Headlines about Elastic

Here are the key news stories impacting Elastic this week:

  • Positive Sentiment: Short interest fell 39% to 3.87 million shares as of August 31, equal to about 4.2% of outstanding shares and only 1.1 days of average trading volume. The decline suggests reduced bearish positioning and could provide technical support for Elastic stock.
  • Positive Sentiment: Elastic’s latest quarterly results exceeded expectations, with earnings of $0.70 per share versus the $0.58 consensus and revenue of $478.1 million versus estimates of $469.8 million. Revenue increased 15.2% year over year, while management issued fiscal 2027 EPS guidance of $3.29 to $3.37.
  • Positive Sentiment: Wall Street remains broadly constructive, with a consensus “Moderate Buy” rating and an average price target of $94.12. Oppenheimer recently raised its target to $118 and maintained an “outperform” rating, reflecting optimism about Elastic’s AI-search and enterprise software opportunities. Elastic’s 2026 Outlook: AI Search Integration Fuels Enterprise Customer Retention
  • Neutral Sentiment: Institutional ownership remains high at approximately 97%. Several funds increased their positions during the second quarter, including California State Teachers’ Retirement System and Squarepoint Ops, indicating continued institutional interest, although these holdings may reflect earlier investment decisions.
  • Negative Sentiment: Multiple executives sold shares after Elastic’s recent rally. CEO Ashutosh Kulkarni, CFO Navam Welihinda, CRO Mark Dodds, CAO Jane Bone and insider Carolyn Herzog collectively sold 54,888 shares for about $4.8 million on September 9. The transactions were made to cover tax withholding tied to vested equity awards, which makes them less bearish than discretionary sales but can still weigh on sentiment.
  • Negative Sentiment: CTO Shay Banon has conducted a much larger series of sales, including 80,583 shares for approximately $7.5 million on September 4 and additional sales totaling hundreds of thousands of shares in late August and early September. Although he retained more than 4.1 million shares, the repeated selling may raise concerns about insider conviction following the stock’s strong advance. Elastic CTO Shay Banon Sells 80,583 Shares of Stock

About Elastic

(Get Free Report)

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.

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