Wellington Management Group LLP Lowers Stock Holdings in Elastic (NYSE:ESTC)

Wellington Management Group LLP decreased its holdings in Elastic (NYSE:ESTC) by 40.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,414 shares of the company’s stock after selling 3,720 shares during the period. Wellington Management Group LLP’s holdings in Elastic were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ESTC. Stifel Financial Corp increased its holdings in Elastic by 10.7% in the third quarter. Stifel Financial Corp now owns 19,564 shares of the company’s stock valued at $1,502,000 after buying an additional 1,898 shares during the last quarter. State Street Corp lifted its position in Elastic by 2.3% during the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock worth $110,323,000 after acquiring an additional 31,663 shares during the period. XTX Topco Ltd acquired a new stake in shares of Elastic during the third quarter worth $293,000. Orion Portfolio Solutions LLC purchased a new position in Elastic during the third quarter worth about $401,000. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of Elastic by 12.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company’s stock worth $229,000 after buying an additional 332 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial lowered their target price on shares of Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company boosted their price objective on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Canaccord Genuity Group increased their target price on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Scotiabank decreased their price target on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 27th. Finally, Guggenheim boosted their target price on Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.35.

Insider Buying and Selling

In related news, CEO Ashutosh Kulkarni sold 18,735 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the transaction, the chief executive officer now owns 376,591 shares of the company’s stock, valued at $34,183,165.07. This trade represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Shay Banon sold 140,129 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the transaction, the chief technology officer now owns 2,254,978 shares of the company’s stock, valued at approximately $240,561,053.04. This trade represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock valued at $20,847,452 in the last quarter. Company insiders own 15.90% of the company’s stock.

Elastic Stock Down 0.8 %

NYSE:ESTC opened at $79.18 on Tuesday. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 143.96 and a beta of 1.19. The stock has a 50-day simple moving average of $98.12 and a 200 day simple moving average of $96.59.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). The business had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Sell-side analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Elastic Company Profile

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.