Elastic (NYSE:ESTC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in shares of Elastic (NYSE:ESTC - Free Report) by 40.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Sylebra Capital LLC increased its stake in shares of Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after purchasing an additional 1,756,842 shares in the last quarter. Norges Bank acquired a new stake in Elastic in the 4th quarter worth about $102,485,000. Arrowstreet Capital Limited Partnership increased its stake in Elastic by 5,972.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock worth $73,751,000 after buying an additional 732,100 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Elastic by 554.9% during the fourth quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock valued at $63,514,000 after acquiring an additional 543,155 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Elastic during the fourth quarter valued at approximately $46,031,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of the company'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 sale, the chief executive officer now owns 376,591 shares in the company, valued at $34,183,165.07. This represents a 4.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Carolyn Herzog sold 3,334 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $302,660.52. Following the transaction, the insider now directly owns 84,152 shares of the company's stock, valued at approximately $7,639,318.56. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,507 shares of company stock worth $3,010,071 over the last three months. Company insiders own 15.90% of the company's stock.

Elastic Stock Up 0.1%

Shares of ESTC opened at $86.37 on Friday. The company's 50-day moving average price is $84.64 and its 200 day moving average price is $97.57. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market cap of $9.02 billion, a P/E ratio of 157.04 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. The business had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business's revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. On average, sell-side analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on ESTC shares. DA Davidson dropped their price target on Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Wall Street Zen raised shares of Elastic from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Guggenheim reduced their target price on shares of Elastic from $136.00 to $107.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Canaccord Genuity Group decreased their price target on shares of Elastic from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Finally, Oppenheimer dropped their price objective on shares of Elastic from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elastic has an average rating of "Moderate Buy" and an average target price of $113.63.

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.

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