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Investing in Elastic N.V (ESTC) Is Getting More Attractive

In a filing, Elastic N.V revealed its Chief Technology Officer Banon Shay unloaded Company’s shares for reported $13.14 million on Jun 24 ’24. In the deal valued at $109.48 per share,120,000 shares were sold. As a result of this transaction, Banon Shay now holds 2,754,978 shares worth roughly $316.46 million.

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Then, Kulkarni Ashutosh sold 9,664 shares, generating $1,061,880 in total proceeds. Upon selling the shares at $109.88, the Chief Executive Officer now owns 452,297 shares.

Before that, Banon Shay sold 180,000 shares. Elastic N.V shares valued at $19,407,526 were divested by the Chief Technology Officer at a price of $107.82 per share. As a result of the transaction, Banon Shay now holds 2,874,978 shares, worth roughly $330.25 million.

UBS initiated its Elastic N.V [ESTC] rating to a Buy in a research note published on May 22, 2024; the price target was $135. A number of analysts have revised their coverage, including Scotiabank’s analysts, who began to cover the stock in mid February with a ‘”a Sector outperform”‘ rating. Barclays also remained covering ESTC and has decreased its forecast on January 12, 2024 with a “an Equal weight” recommendation from previously “an Overweight” rating. Wells Fargo revised its rating on December 01, 2023. It rated ESTC as “an Overweight” which previously was an “an Equal weight”.

Price Performance Review of ESTC

On Friday, Elastic N.V [NYSE:ESTC] saw its stock fall -0.87% to $114.87. Over the last five days, the stock has gained 0.10%. Elastic N.V shares have risen nearly 1.93% since the year began. Nevertheless, the stocks have risen 77.60% over the past one year. While a 52-week high of $136.06 was reached on 02/29/24, a 52-week low of $57.38 was recorded on 05/30/24. SMA at 50 days reached $108.33, while 200 days put it at $102.09. A total of 0.9 million shares were traded, compared to the trading of 0.43 million shares in the previous session.

Levels Of Support And Resistance For ESTC Stock

The 24-hour chart illustrates a support level at 113.76, which if violated will result in even more drops to 112.65. On the upside, there is a resistance level at 116.61. A further resistance level may holdings at 118.35. The Relative Strength Index (RSI) on the 14-day chart is 58.70, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.86, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 22.59%. Stochastics%K at 88.29% indicates the stock is a selling.

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