In a filing, Elastic N.V revealed its Chief Technology Officer Banon Shay unloaded Company’s shares for reported $2.03 million on Mar 20 ’24. In the deal valued at $101.52 per share,20,000 shares were sold. As a result of this transaction, Banon Shay now holds 3,054,978 shares worth roughly $312.77 million.
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Then, Banon Shay sold 180,000 shares, generating $18,221,317 in total proceeds. Upon selling the shares at $101.23, the Chief Technology Officer now owns 3,074,978 shares.
Before that, Banon Shay sold 100,000 shares. Elastic N.V shares valued at $10,172,795 were divested by the Chief Technology Officer at a price of $101.73 per share. As a result of the transaction, Banon Shay now holds 3,254,978 shares, worth roughly $333.24 million.
Scotiabank initiated its Elastic N.V [ESTC] rating to a Sector outperform in a research note published on February 15, 2024; the price target was $185. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in mid January from “an Overweight” to “an Equal weight”. Wells Fargo also remained covering ESTC and has increased its forecast on December 01, 2023 with a “an Overweight” recommendation from previously “an Equal weight” rating. Jefferies revised its rating on October 18, 2023. It rated ESTC as “a Buy” which previously was an “a Hold”.
Price Performance Review of ESTC
On Friday, Elastic N.V [NYSE:ESTC] saw its stock jump 1.44% to $102.38. Over the last five days, the stock has gained 1.29%. Elastic N.V shares have fallen nearly -9.16% since the year began. Nevertheless, the stocks have risen 86.69% over the past one year. While a 52-week high of $136.06 was reached on 02/29/24, a 52-week low of $52.30 was recorded on 03/19/24. SMA at 50 days reached $117.64, while 200 days put it at $88.25. A total of 0.94 million shares were traded, compared to the trading of 1.64 million shares in the previous session.
Levels Of Support And Resistance For ESTC Stock
The 24-hour chart illustrates a support level at 100.63, which if violated will result in even more drops to 98.88. On the upside, there is a resistance level at 103.47. A further resistance level may holdings at 104.55. The Relative Strength Index (RSI) on the 14-day chart is 36.91, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.85%. Stochastics %K at 19.51% indicates the stock is a buying.
How much short interest is there in Elastic N.V?
A steep rise in short interest was recorded in Elastic N.V stocks on Feb 29, 2024, dropping by -0.84 million shares to a total of 3.04 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 3.88 million shares. There was a decline of -27.63%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.64% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.47.
The most recent change occurred on October 12, 2023 when Needham began covering the stock and recommended ‘”a Hold”‘ rating .
