Ashutosh Kulkarni Sells 40,373 Shares of Elastic (NYSE:ESTC) Stock

Elastic N.V. (NYSE:ESTC) CEO Ashutosh Kulkarni sold 40,373 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $2,447,007.53. Following the transaction, the chief executive officer directly owned 628,752 shares in the company, valued at approximately $38,108,658.72. This represents a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Stock Performance

NYSE ESTC opened at $60.25 on Friday. The firm has a 50-day moving average price of $52.59 and a two-hundred day moving average price of $61.10. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The company has a market capitalization of $6.26 billion, a P/E ratio of 17.22, a P/E/G ratio of 20.10 and a beta of 1.00. The company has a quick ratio of 1.82, a current ratio of 1.68 and a debt-to-equity ratio of 0.45.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The company had revenue of $450.68 million for the quarter, compared to analysts’ expectations of $446.66 million. During the same period last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Analysts anticipate that Elastic N.V. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley cut their target price on Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Rothschild & Co Redburn initiated coverage on Elastic in a research report on Thursday, April 23rd. They issued a “neutral” rating and a $49.00 price target on the stock. Truist Financial dropped their price target on Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Weiss Ratings raised shares of Elastic from a “sell (e+)” rating to a “sell (d+)” rating in a research report on Tuesday. Finally, Scotiabank decreased their target price on shares of Elastic from $61.00 to $58.00 and set a “sector perform” rating on the stock in a report on Friday, May 29th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued 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 $80.04.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic’s presentation at Rosenblatt’s 6th Annual Age of AI Technology Summit kept its AI-related growth narrative in focus, which may help support sentiment around the company’s product momentum and long-term opportunity. Elastic N.V. Presents at Rosenblatt 6th Annual Age of AI Technology Summit Transcript
• Neutral Sentiment: Elastic reported a strong latest quarter, beating EPS and revenue expectations and raising forward guidance, which continues to provide a fundamental backdrop for the stock.
• Neutral Sentiment: Institutional ownership remains high, suggesting continued support from large investors despite recent volatility.
• Negative Sentiment: Multiple top insiders, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CTO Shay Banon, CRO Mark Eugene Dodds, CAO Jane Bone, and other executives, sold shares on June 9. The company says these were tied to tax withholding on equity vesting, but the size and breadth of the sales can still weigh on investor sentiment. Elastic Insider Buying and Selling Alert
• Negative Sentiment: Elastic also disclosed a new risk around regulatory hurdles and budget pressures in government contracting, which could make public-sector revenue less predictable if procurement slows or spending tightens. Government Contract Risks Cloud Elastic Revenue Outlook

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently modified their holdings of ESTC. Sound Income Strategies LLC bought a new position in Elastic in the fourth quarter valued at about $25,000. Bessemer Group Inc. bought a new position in shares of Elastic in the first quarter worth about $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic in the 2nd quarter valued at approximately $31,000. Activest Wealth Management boosted its stake in shares of Elastic by 3,181.3% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after purchasing an additional 509 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of Elastic by 206.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after purchasing an additional 371 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic Company Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.