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

Elastic N.V. (NYSE:ESTC) CEO Ashutosh Kulkarni sold 40,373 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 628,752 shares of the company’s stock, valued at $38,108,658.72. The trade was a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Elastic Trading Down 0.9%

NYSE:ESTC opened at $60.70 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.82 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 20.25 and a beta of 1.00. The firm has a fifty day simple moving average of $52.39 and a two-hundred day simple moving average of $61.17. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $96.07.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The business had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. During the same period last year, the company posted $0.47 earnings per share. The business’s quarterly revenue 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 expect that Elastic N.V. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ESTC shares. The Goldman Sachs Group started coverage on shares of Elastic in a research note on Tuesday, April 21st. They issued a “neutral” rating and a $50.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Elastic from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. William Blair started coverage on shares of Elastic in a research note on Friday, May 22nd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Finally, Barclays dropped their price objective on shares of Elastic from $76.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.04.

Trending Headlines about Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic presented at Rosenblatt’s 6th Annual Age of AI Technology Summit, keeping attention on its AI-related product strategy and growth narrative. Elastic N.V. Presents at Rosenblatt 6th Annual Age of AI Technology Summit Transcript
• Neutral Sentiment: Multiple executives sold shares on June 9, but the company said the transactions were for tax withholding tied to vesting equity awards rather than open-market selling. Still, the scale of the sales was sizable, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, and other top insiders, which can weigh on sentiment.
• Neutral Sentiment: Elastic disclosed a new risk related to regulatory hurdles and budget pressures in government contracting, which could make revenue outlooks less predictable if public-sector spending slows or procurement becomes more complex. Regulatory Hurdles and Budget Pressures: Government Contract Risks Cloud Elastic N.V.’s Revenue Outlook
• Negative Sentiment: Several insider sales from the CEO, CFO, CTO, CAO, CRO and other leaders may be read by investors as a cautious signal, especially after the stock’s strong recent move and with the shares trading near key technical levels.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Edgestream Partners L.P. bought a new position in shares of Elastic during the first quarter valued at about $444,000. Bull Harbor Capital LLC bought a new stake in Elastic in the first quarter worth about $456,000. Smith Group Asset Management LLC raised its position in Elastic by 2.2% in the first quarter. Smith Group Asset Management LLC now owns 37,168 shares of the company’s stock worth $1,858,000 after acquiring an additional 795 shares during the period. Amundi raised its position in Elastic by 37.2% in the first quarter. Amundi now owns 296,604 shares of the company’s stock worth $14,827,000 after acquiring an additional 80,441 shares during the period. Finally, California State Teachers Retirement System raised its position in Elastic by 21.8% in 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 during the period. 97.03% of the stock is 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.