Chairman and Co-CEO SACKS RODNEY C sale 65,682 shares of Monster Beverage Corporation [MNST]

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Monster Beverage Corporation shares valued at $5,927,800 were sold by SACKS RODNEY C on Jun 08. At $90.25 per share, SACKS RODNEY C sold 65,682 shares. The insider’s holdings dropped to 244,562 shares worth approximately $23.57 million following the completion of this transaction.

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Also, SCHLOSBERG HILTON H sold 65,682 shares, netting a total of over 5,927,800 in proceeds. Following the sale of shares at $90.25 each, the insider now holds 244,562 shares.

Before that, Carling Guy had sold 26,299 shares from its account. In a trade valued at $2,386,108, the President of EMEA traded Monster Beverage Corporation shares for $90.73 each. Upon closing the transaction, the insider’s holdings decreased to 26,299 shares, worth approximately $2.5 million.

As published in their initiating research note from ROTH Capital on July 05, 2022, Monster Beverage Corporation [MNST] has been a Neutral and the price target has been revised to $100. This represents a 3.64% premium over Thursday’s closing price. Analysts at Morgan Stanley resumed the stock at ‘”an Overweight”‘ outlook in a report released in early June. As of May 18, 2022, Bernstein has increased its “Mkt perform” rating to a “an Outperform” for MNST. Earlier on February 25, 2022, JP Morgan resumed its rating. Their recommendation was “a Neutral” for MNST stock.

Analyzing MNST’s Price Performance

On Thursday, Monster Beverage Corporation [NASDAQ: MNST] rose 0.32% to $96.36. The stock’s lowest price that day was $95.11, but it reached a high of $96.42 in the same session. During the last five days, there has been a drop of approximately -2.58%. Over the course of the year, Monster Beverage Corporation shares have jumped approximately 0.33%. Shares of the company reached a 52-week high of $99.81 on 07/29/22 and a 52-week low of $71.78 on 03/08/22. A 50-day SMA is recorded $93.13, while a 200-day SMA reached $87.75. Nevertheless, trading volume fell to 3.05 million shares from 3.1 million shares the previous day.

Support And Resistance Levels for Monster Beverage Corporation (MNST)

According to the 24-hour chart, there is a support level at 95.51, which, if violated, would cause prices to drop to 94.65. In the upper region, resistance lies at 96.82. The next price resistance is at 97.27. RSI (Relative Strength Index) is 52.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.28, which suggests the price will decrease in the coming days. Percent R is at 61.06%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Monster Beverage Corporation subject to short interest?

Stocks of Monster Beverage Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.2 million shares to 7.45 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.25 million shares. A jump of 29.53% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.4 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.4.

Which companies own the most shares of Monster Beverage Corporation (MNST)?

According to The Vanguard Group, Inc. filings, the company currently owns 28,483,434 shares, which is about 5.38% of the total MNST shares outstanding. The investor’s shares have appreciated by 541,386 from its previous 13-F filing of 27942048.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $2,181,091,301. Loomis, Sayles & Co. LP reduced a -4.62% interest valued at $1.75 billion while SSgA Funds Management, Inc. purchased a 391,417 stake. A total of 264,732 shares of Monster Beverage Corporation were bought by BlackRock Fund Advisors during the quarter, and -521,688 were sold by AllianceBernstein LP. In its current portfolio, ClearBridge Investments LLC holds 10,071,948 shares valued at $933.67 million.

In terms of Monster Beverage Corporation share price expectations, FactSet research, analysts set an average price target of $103.11 in the next 12 months, up nearly 6.72% from the previous closing price of $96.05. Analysts anticipate Monster Beverage Corporation stock to reach $117.00 by 2022, with the lowest price target being $88.00. In spite of this, 21 analysts ranked Monster Beverage Corporation stock as an Overweight at the end of 2022. On February 25, 2022, Guggenheim assigned a price target of “a Buy” to the stock and reiterated coverage with a $105.


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