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

Elastic N.V. (NYSE:ESTC) CEO Ashutosh Kulkarni sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $74.60, for a total value of $373,000.00. Following the sale, the chief executive officer directly owned 426,901 shares in the company, valued at approximately $31,846,814.60. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $75.05, for a total transaction of $1,531,995.65.

Elastic Stock Up 2.0%

ESTC opened at $75.17 on Wednesday. The company has a fifty day moving average of $82.07 and a two-hundred day moving average of $83.38. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of -72.98 and a beta of 0.97. Elastic N.V. has a fifty-two week low of $68.10 and a fifty-two week high of $118.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.06. The business had revenue of $423.48 million for the quarter, compared to analyst estimates of $418.27 million. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, research analysts expect that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic declared that its board has initiated a stock buyback plan on Thursday, October 9th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Bank of America reduced their target price on Elastic from $111.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Citigroup lowered their target price on shares of Elastic from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Robert W. Baird upped their target price on shares of Elastic from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Wells Fargo & Company dropped their price objective on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, November 21st. Finally, Wedbush cut their price target on Elastic from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Seventeen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.25.

Institutional Trading of Elastic

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP boosted its position in shares of Elastic by 127.6% during the third quarter. Allworth Financial LP now owns 1,561 shares of the company’s stock worth $132,000 after buying an additional 875 shares during the period. Swiss Life Asset Management Ltd purchased a new position in Elastic during the 3rd quarter valued at about $348,000. Strategic Advocates LLC acquired a new position in Elastic in the 3rd quarter valued at about $134,000. CIBC Bancorp USA Inc. acquired a new position in Elastic in the 3rd quarter valued at about $3,218,000. Finally, Achmea Investment Management B.V. increased its stake in Elastic by 3.1% during the third quarter. Achmea Investment Management B.V. now owns 170,200 shares of the company’s stock worth $14,380,000 after purchasing an additional 5,146 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

About Elastic

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.