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. Poshmark Inc. shares valued at $401,946 were sold by Tung Hans on Jun 08. At $11.86 per share, Tung Hans sold 33,884 shares. The insider’s holdings dropped to 117,956 shares worth approximately $1.39 million following the completion of this transaction.
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Also, Tung Hans sold 51,870 shares, netting a total of over 601,915 in proceeds. Following the sale of shares at $11.60 each, the insider now holds 119,155 shares.
Before that, Tung Hans had sold 116,918 shares from its account. In a trade valued at $1,364,796, the Director traded Poshmark Inc. shares for $11.67 each. Upon closing the transaction, the insider’s holdings decreased to 116,918 shares, worth approximately $1.42 million.
As published in a research note from JMP Securities on June 01, 2022, Poshmark Inc. [POSH] has been rated down from a Mkt outperform to a Mkt perform. As of April 01, 2022, Stifel has decreased its “Buy” rating to a “Hold” for POSH. Earlier on March 18, 2022, Jefferies initiated its rating. Their recommendation was “a Hold” for POSH stock.
Analyzing POSH’s Price Performance
On Wednesday, Poshmark Inc. [NASDAQ: POSH] rose 4.16% to $11.77. The stock’s lowest price that day was $10.97, but it reached a high of $11.84 in the same session. During the last five days, there has been a surge of approximately 14.16%. Over the course of the year, Poshmark Inc. shares have dropped approximately -30.89%. Shares of the company reached a 52-week high of $17.90 on 01/03/22 and a 52-week low of $8.97 on 05/12/22. A 50-day SMA is recorded $11.40, while a 200-day SMA reached $16.73. Nevertheless, trading volume fell to 1.03 million shares from 1.39 million shares the previous day.
Support And Resistance Levels for Poshmark Inc. (POSH)
According to the 24-hour chart, there is a support level at 11.21, which, if violated, would cause prices to drop to 10.66. In the upper region, resistance lies at 12.08. The next price resistance is at 12.40. RSI (Relative Strength Index) is 54.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.14, which suggests the price will decrease in the coming days. Percent R is at 18.64%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Poshmark Inc. subject to short interest?
Stocks of Poshmark Inc. saw a sharp steep in short interest on Apr 28, 2022 dropping by 50000.0 shares to 5.81 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 5.86 million shares. A decline of -0.86% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.75 of the overall float, the days-to-cover ratio (short ratio) decline to 5.75.
Which companies own the most shares of Poshmark Inc. (POSH)?
According to Dorsey Asset Management LLC filings, the company currently owns 4,193,327 shares, which is about 7.83% of the total POSH shares outstanding. The investor’s shares have appreciated by 886,766 from its previous 13-F filing of 3306561.0 shares. With the completion of the sale, Temasek Holdings Pte Ltd.’s stake is now worth $43,410,091. The Vanguard Group, Inc. acquire a 2.13% interest valued at $33.82 million while Russell Investment Management LLC purchased a 1,427,280 stake. A total of 1,299,135 shares of Poshmark Inc. were bought by Invenomic Capital Management LP during the quarter, and 617,100 were bought by Renaissance Technologies LLC. In its current portfolio, D. E. Shaw & Co. LP holds 1,136,074 shares valued at $12.42 million.
In terms of Poshmark Inc. share price expectations, FactSet research, analysts set an average price target of $14.82 in the next 12 months, up nearly 15.04% from the previous closing price of $11.30. Analysts anticipate Poshmark Inc. stock to reach $21.00 by 2022, with the lowest price target being $11.00. In spite of this, 14 analysts ranked Poshmark Inc. stock as a Hold at the end of 2022. On November 23, 2021, Guggenheim assigned a price target of “a Neutral” to the stock and initiated coverage with a $22.