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 $758,689 were sold by Kulkarni Ashutosh on Dec 18 ’24. At $108.12 per share, Kulkarni Ashutosh sold 7,017 shares. The insider’s holdings dropped to 395,326 shares worth approximately $41.0 million following the completion of this transaction.
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Also, Kulkarni Ashutosh purchased 7,017 shares, netting a total of over 758,689 in proceeds.
Before that, Dodds Mark Eugene had sold 3,691 shares from its account. In a trade valued at $401,286, the Chief Revenue Officer traded Elastic N.V shares for $108.72 each. Upon closing the transaction, the insider’s holdings decreased to 3,691 shares, worth approximately $10.29 million.
As published in their initiating research note from Morgan Stanley on December 17, 2024, Elastic N.V [ESTC] has been an Overweight and the price target has been revised to $130. Analysts at Wedbush upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in late November. As of November 22, 2024, Robert W. Baird has increased its “Neutral” rating to a “an Outperform” for ESTC. Earlier on November 22, 2024, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for ESTC stock.
Analyzing ESTC Stock Performance
During the last five days, there has been a drop of approximately -3.31%. Over the course of the year, Elastic N.V shares have dropped approximately -7.98%. 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 $93.23, while a 200-day SMA reached $98.87. Nevertheless, trading volume fell to 1.15 million shares from 1.51 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 102.43, which, if violated, would cause prices to drop to 101.14. In the upper region, resistance lies at 105.94. The next price resistance is at 108.16. RSI (Relative Strength Index) is 52.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.20, which suggests the price will decrease in the coming days. Percent R is at 93.90%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
