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 $487,605 were sold by Moorjani Janesh on Sep 09 ’24. At $70.25 per share, Moorjani Janesh sold 6,941 shares. The insider’s holdings dropped to 195,550 shares worth approximately $14.9 million following the completion of this transaction.
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Also, Banon Shay sold 2,666 shares, netting a total of over 187,286 in proceeds. Following the sale of shares at $70.25 each, the insider now holds 4,543,190 shares.
Before that, Kulkarni Ashutosh had sold 19,649 shares from its account. In a trade valued at $1,380,342, the Chief Executive Officer traded Elastic N.V shares for $70.25 each. Upon closing the transaction, the insider’s holdings decreased to 19,649 shares, worth approximately $32.97 million.
As published in their initiating research note from Guggenheim on September 11, 2024, Elastic N.V [ESTC] has been a Buy and the price target has been revised to $100. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in late August. As of August 30, 2024, BofA Securities has decreased its “Buy” rating to a “Neutral” for ESTC. Earlier on May 22, 2024, UBS initiated its rating. Their recommendation was “a Buy” for ESTC stock.
Analyzing ESTC Stock Performance
During the last five days, there has been a drop of approximately -1.73%. Over the course of the year, Elastic N.V shares have dropped approximately -32.39%. Shares of the company reached a 52-week high of $136.06 on 02/29/24 and a 52-week low of $69.00 on 09/09/24. A 50-day SMA is recorded $91.51, while a 200-day SMA reached $106.01. Nevertheless, trading volume fell to 0.91 million shares from 1.61 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 75.28, which, if violated, would cause prices to drop to 74.35. In the upper region, resistance lies at 76.70. The next price resistance is at 77.19. RSI (Relative Strength Index) is 36.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.63, which suggests the price will decrease in the coming days. Percent R is at 60.61%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
