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

Posted by Brenda Bartman on Sep 12th, 2026

Elastic N.V. (NYSE:ESTC – Get Free Report) CEO Ashutosh Kulkarni sold 29,227 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total value of $2,565,546.06. Following the transaction, the chief executive officer directly owned 599,525 shares of the company’s stock, valued at $52,626,304.50. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Stock Down 0.0%

ESTC stock opened at $83.44 on Friday. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 8.09 and a beta of 1.03. Elastic N.V. has a twelve month low of $42.05 and a twelve month high of $108.00. The business has a 50 day moving average price of $74.79 and a two-hundred day moving average price of $61.07. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wedbush began coverage on shares of Elastic in a research note on Friday. They issued an “outperform” rating and a $125.00 price target for the company. Morgan Stanley upped their target price on shares of Elastic from $66.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. JPMorgan Chase & Co. lifted their price target on Elastic from $93.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. Stifel Nicolaus boosted their price target on Elastic from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Finally, Scotiabank raised their price objective on Elastic from $58.00 to $84.00 and gave the company a “sector perform” rating in a research report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.52.

Check Out Our Latest Report on ESTC

Hedge Funds Weigh In On Elastic

A number of hedge funds have recently bought and sold shares of the business. Orion Porfolio Solutions LLC boosted its holdings in Elastic by 1.4% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after purchasing an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Elastic by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after purchasing an additional 171 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Elastic by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock valued at $2,393,000 after buying an additional 175 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Elastic by 0.3% in the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after buying an additional 219 shares during the period. Finally, 180 Wealth Advisors LLC grew its position in Elastic by 4.6% during the second quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock worth $344,000 after buying an additional 263 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Key Stories Impacting Elastic

Here are the key news stories impacting Elastic this week:

Positive Sentiment: Elastic introduced Elasticsearch Vector Database, a serverless offering designed for large-scale vector search and artificial-intelligence applications. The product is intended to simplify deployment, support hundreds of billions of vectors and strengthen Elastic’s position in the growing AI-search market. Elastic Introduces Serverless Vector Database
Positive Sentiment: Wedbush began coverage with an “outperform” rating and a $125 price target, implying substantial upside from the recent trading level. The recommendation reflects optimism about Elastic’s AI, search and cloud growth opportunities.
Positive Sentiment: Short interest dropped 39% between mid-August and August 31 to 3.87 million shares, or roughly 4.2% of shares outstanding. Reduced bearish positioning and only 1.1 days of short-interest coverage could provide technical support and limit short-selling pressure.
Neutral Sentiment: Elastic’s latest quarterly results were strong, with $0.70 in adjusted EPS versus the $0.58 consensus and revenue of $478.1 million versus $469.8 million expected. Revenue grew 15.2% year over year, and fiscal 2027 EPS guidance was set at $3.29 to $3.37; however, these results were reported previously and may already be reflected in the stock’s valuation.
Negative Sentiment: Several executives, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CRO Mark Dodds and CAO Jane Bone, sold shares on September 9. The sales totaled about 54,888 shares and $4.8 million, but were made to cover tax withholding on vested equity awards, making them less concerning than discretionary selling.
Negative Sentiment: Repeated insider selling following a strong rally could still weigh on sentiment, particularly as investors assess whether the company’s AI-driven growth can justify its elevated valuation.

Elastic Company Profile

(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.