Elastic (NYSE:ESTC) CEO Ashutosh Kulkarni Sells 5,000 Shares

by · The Cerbat Gem

Elastic N.V. (NYSE:ESTC – Get Free Report) CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $74.60, for a total value of $373,000.00. Following the completion of the sale, the chief executive officer owned 426,901 shares in the company, valued at approximately $31,846,814.60. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Ashutosh Kulkarni also recently made the following trade(s):

  • On Tuesday, December 9th, Ashutosh Kulkarni sold 20,413 shares of Elastic stock. The shares were sold at an average price of $75.05, for a total value of $1,531,995.65.

Elastic Stock Up 2.0%

ESTC traded up $1.45 on Tuesday, hitting $75.17. 1,409,804 shares of the company were exchanged, compared to its average volume of 1,784,166. The firm has a 50-day moving average price of $82.17 and a two-hundred day moving average price of $83.42. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64. Elastic N.V. has a twelve month low of $68.10 and a twelve month high of $118.84. The company has a market cap of $7.92 billion, a price-to-earnings ratio of -72.98 and a beta of 0.97.

Elastic (NYSE:ESTC – Get Free Report) last announced its quarterly earnings data on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.06. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The business had revenue of $423.48 million during the quarter, compared to analysts’ expectations of $418.27 million. During the same quarter last year, the business posted $0.59 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, equities analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic declared that its Board of Directors has initiated a share repurchase program on Thursday, October 9th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Elastic

Several large investors have recently bought and sold shares of ESTC. Vanguard Group Inc. grew its holdings in shares of Elastic by 7.4% during the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock worth $862,322,000 after purchasing an additional 705,991 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Elastic by 62.5% in the 3rd quarter. AQR Capital Management LLC now owns 2,977,361 shares of the company’s stock valued at $251,557,000 after purchasing an additional 1,145,146 shares during the period. Voya Investment Management LLC grew its stake in Elastic by 4.7% during the 3rd quarter. Voya Investment Management LLC now owns 1,781,925 shares of the company’s stock worth $150,555,000 after buying an additional 79,465 shares during the last quarter. State Street Corp increased its position in Elastic by 4.0% during the second quarter. State Street Corp now owns 1,574,525 shares of the company’s stock worth $132,780,000 after buying an additional 59,850 shares during the period. Finally, Geode Capital Management LLC increased its position in Elastic by 3.6% during the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock worth $132,384,000 after buying an additional 54,812 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company lowered their price target on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, November 21st. Bank of America decreased their price objective on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Piper Sandler dropped their target price on Elastic from $125.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, November 21st. Royal Bank Of Canada cut their price target on Elastic from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Finally, Wall Street Zen raised Elastic from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.25.

View Our Latest Report on Elastic

About Elastic

(Get Free Report)

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.

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