The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Elastic N.V shares valued at $19,190 were sold by Herzog Carolyn on Mar 27 ’24. At $99.95 per share, Herzog Carolyn sold 192 shares. The insider’s holdings dropped to 87,799 shares worth approximately $8.37 million following the completion of this transaction.
Also, Schuurman Steven sold 815,000 shares, netting a total of over 79,495,100 in proceeds. Following the sale of shares at $97.54 each, the insider now holds 8,382,000 shares.
Before that, Banon Shay had sold 20,000 shares from its account. In a trade valued at $2,030,411, the Chief Technology Officer traded Elastic N.V shares for $101.52 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $291.17 million.
As published in their initiating research note from Scotiabank on February 15, 2024, Elastic N.V [ESTC] has been a Sector outperform and the price target has been revised to $185. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid January. As of December 01, 2023, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for ESTC. Earlier on October 18, 2023, Jefferies upgraded its rating. Their new recommendation was “a Buy” for ESTC stock which previously was a “a Hold”.
Analyzing ESTC Stock Performance
During the last five days, there has been a drop of approximately -4.55%. Over the course of the year, Elastic N.V shares have dropped approximately -15.43%. Shares of the company reached a 52-week high of $136.06 on 02/29/24 and a 52-week low of $93.32 on 04/18/24. A 50-day SMA is recorded $110.04, while a 200-day SMA reached $91.11. Nevertheless, trading volume fell to 0.67 million shares from 1.2 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 93.76, which, if violated, would cause prices to drop to 92.20. In the upper region, resistance lies at 96.43. The next price resistance is at 97.55. RSI (Relative Strength Index) is 33.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.36, which suggests the price will decrease in the coming days. Percent R is at 76.04%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
