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. Veeva Systems Inc shares valued at $746,297 were sold by Faddis Jonathan on Apr 15 ’24. At $207.42 per share, Faddis Jonathan sold 3,598 shares. The insider’s holdings dropped to 10,668 shares worth approximately $2.13 million following the completion of this transaction.
Also, Cabral Timothy S sold 15,000 shares, netting a total of over 3,390,657 in proceeds. Following the sale of shares at $226.04 each, the insider now holds 23,391 shares.
Before that, Wallach Matthew J had sold 5,000 shares from its account. In a trade valued at $1,017,147, the Director traded Veeva Systems Inc shares for $203.43 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $20.76 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 -5.52%. Over the course of the year, Veeva Systems Inc shares have jumped approximately 3.65%. 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 $221.14, while a 200-day SMA reached $202.43. Nevertheless, trading volume fell to 0.85 million shares from 1.42 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 197.53, which, if violated, would cause prices to drop to 195.52. In the upper region, resistance lies at 201.58. The next price resistance is at 203.63. RSI (Relative Strength Index) is 25.22 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -11.33, which suggests the price will decrease in the coming days. Percent R is at 94.26%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
