Wellington Management Group LLP Has $701,000 Stock Holdings in Elastic (NYSE:ESTC)

Wellington Management Group LLP grew its holdings in shares of Elastic (NYSE:ESTC) by 138.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,134 shares of the company’s stock after buying an additional 5,305 shares during the quarter. Wellington Management Group LLP’s holdings in Elastic were worth $701,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Asset Dedication LLC grew its stake in shares of Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares in the last quarter. AlphaCentric Advisors LLC purchased a new position in Elastic during the second quarter worth about $40,000. Quarry LP bought a new stake in Elastic in the 2nd quarter worth about $40,000. Signaturefd LLC increased its stake in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after buying an additional 119 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Elastic during the 3rd quarter worth approximately $61,000. 97.03% of the stock is owned by institutional investors.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $103.63 on Friday. 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 company has a 50-day moving average price of $93.80 and a 200-day moving average price of $97.41. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 188.42 and a beta of 1.02. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ESTC. JPMorgan Chase & Co. boosted their price objective on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. UBS Group reduced their price target on shares of Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Robert W. Baird upgraded shares of Elastic from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $95.00 to $135.00 in a report on Friday, November 22nd. William Blair upgraded shares of Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Finally, Wedbush lowered shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.50.

Insider Activity at Elastic

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the completion of the transaction, the insider now directly owns 92,011 shares in the company, valued at approximately $10,244,504.74. This represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock worth $18,637,562 in the last 90 days. Company insiders own 15.90% of the company’s stock.

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.