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 $3,390,657 were sold by Cabral Timothy S on Mar 07 ’24. At $226.04 per share, Cabral Timothy S sold 15,000 shares. The insider’s holdings dropped to 23,391 shares worth approximately $5.02 million following the completion of this transaction.
Also, Wallach Matthew J sold 5,000 shares, netting a total of over 1,017,147 in proceeds. Following the sale of shares at $203.43 each, the insider now holds 104,025 shares.
Before that, Schwenger Thomas D. had sold 1,238 shares from its account. In a trade valued at $260,001, the President and COO traded Veeva Systems Inc shares for $210.02 each. Upon closing the transaction, the insider’s holdings decreased to 1,238 shares, worth approximately $5.23 million.
As published in a research note from Wells Fargo on October 25, 2023, Veeva Systems Inc [VEEV] has been rated up from an Equal weight to an Overweight and the price target has been revised to $229 from $211. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of June 28, 2023, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for VEEV. Earlier on June 01, 2023, Guggenheim upgraded its rating. Their new recommendation was “a Buy” for VEEV stock which previously was a “a Neutral”.
Analyzing VEEV Stock Performance
During the last five days, there has been a drop of approximately -7.99%. Over the course of the year, Veeva Systems Inc shares have jumped approximately 11.54%. Shares of the company reached a 52-week high of $236.90 on 03/14/24 and a 52-week low of $182.77 on 01/08/24. A 50-day SMA is recorded $221.27, while a 200-day SMA reached $202.01. Nevertheless, trading volume fell to 0.91 million shares from 1.98 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 213.07, which, if violated, would cause prices to drop to 211.41. In the upper region, resistance lies at 217.95. The next price resistance is at 221.17. RSI (Relative Strength Index) is 36.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -11.31, which suggests the price will decrease in the coming days. Percent R is at 89.25%, indicating bearish price movement. Stochastics %K at buying 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 Mar 15, 2024 jumping by 0.24 million shares to 2.47 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.23 million shares. A jump of 9.72% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.31 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.31.
