Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Elastic N.V shares valued at $1,061,880 were sold by Kulkarni Ashutosh on Jun 24 ’24. At $109.88 per share, Kulkarni Ashutosh sold 9,664 shares. The insider’s holdings dropped to 452,297 shares worth approximately $47.75 million following the completion of this transaction.
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Also, Banon Shay sold 180,000 shares, netting a total of over 19,407,526 in proceeds. Following the sale of shares at $107.82 each, the insider now holds 2,874,978 shares.
Before that, Banon Shay had sold 120,000 shares from its account. In a trade valued at $13,137,100, the Chief Technology Officer traded Elastic N.V shares for $109.48 each. Upon closing the transaction, the insider’s holdings decreased to 120,000 shares, worth approximately $290.84 million.
As published in their initiating research note from UBS on May 22, 2024, Elastic N.V [ESTC] has been a Buy and the price target has been revised to $135. Analysts at Scotiabank started covering the stock with ‘”a Sector outperform”‘ outlook in a report released in mid February. As of January 12, 2024, Barclays has decreased its “an Overweight” rating to a “an Equal weight” for ESTC. Earlier on December 01, 2023, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for ESTC stock which previously was a “an Equal weight”.
Analyzing ESTC Stock Performance
During the last five days, there has been a drop of approximately -2.96%. Over the course of the year, Elastic N.V shares have dropped approximately -6.33%. Shares of the company reached a 52-week high of $136.06 on 02/29/24 and a 52-week low of $92.96 on 05/30/24. A 50-day SMA is recorded $110.97, while a 200-day SMA reached $107.51. Nevertheless, trading volume fell to 0.67 million shares from 0.56 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 104.21, which, if violated, would cause prices to drop to 102.84. In the upper region, resistance lies at 108.15. The next price resistance is at 110.73. RSI (Relative Strength Index) is 45.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.78, which suggests the price will increase in the coming days. Percent R is at 39.77%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
