Selling Buzz: Elastic N.V. [ESTC] CFO & COO Moorjani Janesh sells 1,959 shares of the company

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Elastic N.V. shares valued at $173,473 were sold by Moorjani Janesh on Sep 09. At $88.55 per share, Moorjani Janesh sold 1,959 shares. The insider’s holdings dropped to 76,965 shares worth approximately $5.81 million following the completion of this transaction.


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Also, Kulkarni Ashutosh sold 7,512 shares, netting a total of over 665,200 in proceeds. Following the sale of shares at $88.55 each, the insider now holds 126,110 shares.

Before that, Herzog Carolyn had sold 1,322 shares from its account. In a trade valued at $117,065, the Chief Legal Officer traded Elastic N.V. shares for $88.55 each. Upon closing the transaction, the insider’s holdings decreased to 1,322 shares, worth approximately $4.46 million.

As published in a research note from Monness Crespi & Hardt on August 11, 2022, Elastic N.V. [ESTC] has been rated down from a Buy to a Neutral. Analysts at Canaccord Genuity started covering the stock with ‘”a Buy”‘ outlook in a report released in early July. As of April 25, 2022, William Blair has initiated its “an Outperform” rating for ESTC. Earlier on March 04, 2022, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for ESTC stock.

Analyzing ESTC’s Price Performance

On Wednesday, Elastic N.V. [NYSE: ESTC] plunged -2.05% to $75.44. The stock’s lowest price that day was $75.28, but it reached a high of $79.4485 in the same session. During the last five days, there has been a drop of approximately -12.58%. Over the course of the year, Elastic N.V. shares have dropped approximately -38.71%. Shares of the company reached a 52-week high of $124.25 on 01/03/22 and a 52-week low of $50.74 on 05/12/22. A 50-day SMA is recorded $81.43, while a 200-day SMA reached $84.66. Nevertheless, trading volume fell to 1.0 million shares from 2.18 million shares the previous day.

Support And Resistance Levels for Elastic N.V. (ESTC)

According to the 24-hour chart, there is a support level at 74.00, which, if violated, would cause prices to drop to 72.55. In the upper region, resistance lies at 78.17. The next price resistance is at 80.89. RSI (Relative Strength Index) is 39.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.41, which suggests the price will decrease in the coming days. Percent R is at 99.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Elastic N.V. subject to short interest?

Stocks of Elastic N.V. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.64 million shares to 3.21 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.85 million shares. A decline of -19.94% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.39 of the overall float, the days-to-cover ratio (short ratio) decline to 2.39.

Which companies own the most shares of Elastic N.V. (ESTC)?

According to The Vanguard Group, Inc. filings, the company currently owns 7,108,763 shares, which is about 7.49% of the total ESTC shares outstanding. The investor’s shares have appreciated by 163,477 from its previous 13-F filing of 6945286.0 shares. With the completion of the sale transaction, Fidelity Management & Research Co’s stake is now worth $391,274,344. Sylebra Capital Ltd. acquire a 10.21% interest valued at $377.33 million while BlackRock Fund Advisors purchased a 130,209 stake. A total of 1,703 shares of Elastic N.V. were bought by Jackson Square Partners LLC during the quarter, and 836,318 were bought by FIL Investment Advisors. In its current portfolio, Citadel Advisors LLC holds 1,669,087 shares valued at $140.05 million.

In terms of Elastic N.V. share price expectations, FactSet research, analysts set an average price target of $106.00 in the next 12 months, up nearly 33.08% from the previous closing price of $77.02. Analysts anticipate Elastic N.V. stock to reach $155.00 by 2022, with the lowest price target being $80.00. In spite of this, 20 analysts ranked Elastic N.V. stock as an Overweight at the end of 2022. On March 02, 2022, Monness Crespi & Hardt assigned a price target of “a Buy” to the stock and reiterated coverage with a $124.

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