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. Bunge Limited shares valued at $5,135,487 were sold by Simmons Jerry Matthews JR on May 02. At $114.98 per share, Simmons Jerry Matthews JR sold 44,666 shares. The insider’s holdings dropped to 33,654 shares worth approximately $3.13 million following the completion of this transaction.
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Also, Dimopoulos Christos sold 16,000 shares, netting a total of over 1,731,846 in proceeds. Following the sale of shares at $108.24 each, the insider now holds 42,950 shares.
Before that, FRIBOURG PAUL J had sold 90,000 shares from its account. In a trade valued at $9,859,989, the Director traded Bunge Limited shares for $109.56 each. Upon closing the transaction, the insider’s holdings decreased to 90,000 shares, worth approximately $97.83 million.
As published in a research note from BofA Securities on April 19, 2022, Bunge Limited [BG] has been rated down from a Buy to a Neutral and the price target has been revised to $134 from $120. This represents a 30.55% premium over Wednesday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid February. Earlier on April 21, 2021, BofA Securities initiated its rating. Their recommendation was “a Neutral” for BG stock.
Analyzing BG’s Price Performance
On Wednesday, Bunge Limited [NYSE: BG] plunged -5.72% to $93.06. The stock’s lowest price that day was $92.92, but it reached a high of $96.77 in the same session. During the last five days, there has been a drop of approximately -10.82%. Over the course of the year, Bunge Limited shares have dropped approximately -0.32%. Shares of the company reached a 52-week high of $128.40 on 04/21/22 and a 52-week low of $89.62 on 01/24/22. A 50-day SMA is recorded $113.11, while a 200-day SMA reached $99.08. Nevertheless, trading volume fell to 2.22 million shares from 1.87 million shares the previous day.
Support And Resistance Levels for Bunge Limited (BG)
According to the 24-hour chart, there is a support level at 91.73, which, if violated, would cause prices to drop to 90.40. In the upper region, resistance lies at 95.58. The next price resistance is at 98.10. RSI (Relative Strength Index) is 26.66 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.46, which suggests the price will decrease in the coming days. Percent R is at 99.40%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Bunge Limited (BG)?
According to Capital Research & Management Co filings, the company currently owns 17,109,705 shares, which is about 11.99% of the total BG shares outstanding. The investor’s shares have appreciated by 1,006,276 from its previous 13-F filing of 16103429.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $1,634,538,029. T. Rowe Price Associates, Inc. reduced a -10.72% interest valued at $799.29 million while BlackRock Fund Advisors purchased a 423,070 stake. A total of -255,971 shares of Bunge Limited were bought by Fidelity Management & Research Co during the quarter, and 249,813 were bought by SSgA Funds Management, Inc. In its current portfolio, Dimensional Fund Advisors LP holds 3,518,749 shares valued at $416.34 million.
In terms of Bunge Limited share price expectations, FactSet research, analysts set an average price target of $139.33 in the next 12 months, up nearly 41.83% from the previous closing price of $98.71. Analysts anticipate Bunge Limited stock to reach $162.00 by 2022, with the lowest price target being $120.00. In spite of this, 10 analysts ranked Bunge Limited stock as an Overweight at the end of 2022. On May 13, 2020, Robert W. Baird assigned a price target of “an Outperform” to the stock and upgraded coverage with a $46.