Sunday, June 26, 2022

A company insider recently sold 10,000 shares of Veeva Systems Inc. [VEEV]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Veeva Systems Inc. shares valued at $1,893,081 were sold by Cabral Timothy S on Jun 06. At $189.31 per share, Cabral Timothy S sold 10,000 shares. The insider’s holdings dropped to 118,114 shares worth approximately $22.17 million following the completion of this transaction.

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Also, O’Connor Michele sold 371 shares, netting a total of over 70,256 in proceeds. Following the sale of shares at $189.37 each, the insider now holds 15,833 shares.

Before that, CODD RONALD E F had sold 20,000 shares from its account. In a trade valued at $4,142,818, the Director traded Veeva Systems Inc. shares for $207.14 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $82950.14.

As published in their initiating research note from Stifel on October 23, 2020, Hycroft Mining Holding Corporation [HYMC] has been a Buy and the price target has been revised to $15. This represents a 91.13% premium over Wednesday’s closing price. This represents a 25.53% premium over Wednesday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early March. As of January 28, 2022, Truist has initiated its “Buy” rating for VEEV. Earlier on January 07, 2022, Stephens downgraded its rating. Their new recommendation was “an Equal-weight” for VEEV stock which previously was a “an Overweight”.

Analyzing VEEV’s Price Performance

On Wednesday, Veeva Systems Inc. [NYSE: VEEV] rose 1.21% to $187.67. The stock’s lowest price that day was $182.46, but it reached a high of $192.47 in the same session. During the last five days, there has been a surge of approximately 4.66%. Over the course of the year, Veeva Systems Inc. shares have dropped approximately -26.54%. Shares of the company reached a 52-week high of $257.68 on 01/03/22 and a 52-week low of $152.04 on 05/19/22. A 50-day SMA is recorded $178.85, while a 200-day SMA reached $238.13. Nevertheless, trading volume fell to 1.18 million shares from 0.98 million shares the previous day.

Support And Resistance Levels for Veeva Systems Inc. (VEEV)

According to the 24-hour chart, there is a support level at 182.60, which, if violated, would cause prices to drop to 177.52. In the upper region, resistance lies at 192.61. The next price resistance is at 197.54. RSI (Relative Strength Index) is 56.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.06, which suggests the price will decrease in the coming days. Percent R is at 37.86%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Veeva Systems Inc. subject to short interest?

Stocks of Veeva Systems Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 1.23 million shares to 3.54 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 2.31 million shares. A jump of 34.75% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.75 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.75.

Which companies own the most shares of Veeva Systems Inc. (VEEV)?

According to T. Rowe Price Associates, Inc. filings, the company currently owns 14,358,068 shares, which is about 10.25% of the total VEEV shares outstanding. The investor’s shares have appreciated by 2,010,080 from its previous 13-F filing of 12347988.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $2,144,833,324. Morgan Stanley Investment Managem reduced a -10.35% interest valued at $1.43 billion while Artisan Partners LP purchased a 347,473 stake. A total of 254,987 shares of Veeva Systems Inc. were bought by BlackRock Fund Advisors during the quarter, and 1,517,421 were bought by AllianceBernstein LP. In its current portfolio, SSgA Funds Management, Inc. holds 2,962,519 shares valued at $504.4 million.

In terms of Veeva Systems Inc. share price expectations, FactSet research, analysts set an average price target of $226.26 in the next 12 months, up nearly 21.34% from the previous closing price of $185.43. Analysts anticipate Veeva Systems Inc. stock to reach $290.00 by 2022, with the lowest price target being $175.00. In spite of this, 22 analysts ranked Veeva Systems Inc. stock as an Overweight at the end of 2022. On January 06, 2022, SVB Leerink assigned a price target of “an Outperform” to the stock and upgraded coverage with a $282.

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