Insider Buying: Doheny Edward L II, Sealed Air Corporation [SEE] President and CEO invested 4,500 shares

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. Sealed Air Corporation shares valued at $256,274 were purchased by Doheny Edward L II on Aug 03. At $56.95 per share, Doheny Edward L II acquired 4,500 shares. The insider’s holdings grew to 515,254 shares worth approximately $29.08 million following the completion of this transaction.


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Also, Pupkin Sergio A purchased 1,000 shares, netting a total of over 57,658 in proceeds. Following the buying of shares at $57.66 each, the insider now holds 45,748 shares.

As published in a research note from RBC Capital Mkts on August 03, 2022, Sealed Air Corporation [SEE] has been rated up from a Sector perform to an Outperform and the price target has been revised to $70 from $66. This represents a 19.39% premium over Thursday’s closing price. Analysts at Credit Suisse downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of July 07, 2022, BofA Securities has decreased its “Buy” rating to a “Neutral” for SEE. Earlier on June 01, 2022, JP Morgan downgraded its rating. Their new recommendation was “an Underweight” for SEE stock which previously was a “a Neutral”.

Analyzing SEE’s Price Performance

On Thursday, Sealed Air Corporation [NYSE: SEE] plunged -0.04% to $56.43. The stock’s lowest price that day was $56.19, but it reached a high of $58.26 in the same session. During the last five days, there has been a drop of approximately -7.31%. Over the course of the year, Sealed Air Corporation shares have dropped approximately -16.36%. Shares of the company reached a 52-week high of $70.72 on 03/29/22 and a 52-week low of $55.08 on 07/14/22. A 50-day SMA is recorded $59.15, while a 200-day SMA reached $63.66. Nevertheless, trading volume fell to 1.38 million shares from 1.87 million shares the previous day.

Support And Resistance Levels for Sealed Air Corporation (SEE)

According to the 24-hour chart, there is a support level at 55.66, which, if violated, would cause prices to drop to 54.89. In the upper region, resistance lies at 57.73. The next price resistance is at 59.03. RSI (Relative Strength Index) is 40.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.29, which suggests the price will decrease in the coming days. Percent R is at 86.25%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Sealed Air Corporation subject to short interest?

Stocks of Sealed Air Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 40000.0 shares to 1.85 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.81 million shares. A jump of 2.16% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.78 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.78.

Which companies own the most shares of Sealed Air Corporation (SEE)?

According to T. Rowe Price Associates, Inc. filings, the company currently owns 15,990,389 shares, which is about 10.95% of the total SEE shares outstanding. The investor’s shares have plunged by -399,604 from its previous 13-F filing of 16389993.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $922,269,612. BlackRock Fund Advisors acquire a 2.61% interest valued at $453.3 million while SSgA Funds Management, Inc. purchased a 9,163 stake. A total of -107,779 shares of Sealed Air Corporation were bought by Janus Henderson Investors US LLC during the quarter, and 1,132,248 were bought by BlackRock Advisors LLC. In its current portfolio, BlackRock Investment Management L holds 3,387,212 shares valued at $195.51 million.

In terms of Sealed Air Corporation share price expectations, FactSet research, analysts set an average price target of $68.79 in the next 12 months, up nearly 22.23% from the previous closing price of $56.45. Analysts anticipate Sealed Air Corporation stock to reach $76.00 by 2022, with the lowest price target being $62.00. In spite of this, 18 analysts ranked Sealed Air Corporation stock as an Overweight at the end of 2022. On February 25, 2022, JP Morgan assigned a price target of “a Neutral” to the stock and downgraded coverage with a $71.

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