Tapestry Inc. [TPR] Chief Executive Officer makes an insider acquire of 5,700 shares worth 197,220.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tapestry Inc. shares valued at $197,220 were purchased by Crevoiserat Joanne C. on Mar 11. At $34.60 per share, Crevoiserat Joanne C. acquired 5,700 shares. The insider’s holdings grew to 251,911 shares worth approximately $8.53 million following the completion of this transaction.


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Also, Dunn Sarah sold 35,000 shares, netting a total of over 1,426,600 in proceeds. Following the sale of shares at $40.76 each, the insider now holds 68,594 shares.

Before that, Dunn Sarah had sold 12,622 shares from its account. In a trade valued at $517,250, the Global Human Resources Officer traded Tapestry Inc. shares for $40.98 each. Upon closing the transaction, the insider’s holdings decreased to 12,622 shares, worth approximately $4.06 million.

As published in a research note from Jefferies on June 15, 2022, Tapestry Inc. [TPR] has been rated up from a Hold to a Buy and the price target has been revised to $45 from $30. This represents a 24.73% premium over Thursday’s closing price. Analysts at Bernstein started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid March. As of January 28, 2022, Citigroup has increased its “Neutral” rating to a “Buy” for TPR. Earlier on November 19, 2021, Argus upgraded its rating. Their new recommendation was “a Buy” for TPR stock which previously was a “a Hold”.

Analyzing TPR’s Price Performance

On Thursday, Tapestry Inc. [NYSE: TPR] rose 0.12% to $33.87. The stock’s lowest price that day was $33.38, but it reached a high of $34.01 in the same session. During the last five days, there has been a drop of approximately -0.47%. Over the course of the year, Tapestry Inc. shares have dropped approximately -16.58%. Shares of the company reached a 52-week high of $42.36 on 01/05/22 and a 52-week low of $26.39 on 05/11/22. A 50-day SMA is recorded $32.67, while a 200-day SMA reached $36.79. Nevertheless, trading volume fell to 2.42 million shares from 2.58 million shares the previous day.

Support And Resistance Levels for Tapestry Inc. (TPR)

According to the 24-hour chart, there is a support level at 33.50, which, if violated, would cause prices to drop to 33.12. In the upper region, resistance lies at 34.13. The next price resistance is at 34.38. RSI (Relative Strength Index) is 55.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.07, which suggests the price will decrease in the coming days. Percent R is at 20.12%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Tapestry Inc. subject to short interest?

Stocks of Tapestry Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.14 million shares to 8.2 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.06 million shares. A jump of 1.71% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.2 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.2.

Which companies own the most shares of Tapestry Inc. (TPR)?

According to The Vanguard Group, Inc. filings, the company currently owns 31,767,510 shares, which is about 12.62% of the total TPR shares outstanding. The investor’s shares have appreciated by 797,411 from its previous 13-F filing of 30970099.0 shares. With the completion of the sale transaction, Fidelity Management & Research Co’s stake is now worth $587,985,593. JPMorgan Investment Management, I reduced a -0.75% interest valued at $541.27 million while BlackRock Fund Advisors sold a -1,282,960 stake. A total of -386,909 shares of Tapestry Inc. were sold by SSgA Funds Management, Inc. during the quarter, and -3,948 were sold by Columbia Management Investment Ad. In its current portfolio, Franklin Mutual Advisers LLC holds 9,292,932 shares valued at $283.62 million.

In terms of Tapestry Inc. share price expectations, FactSet research, analysts set an average price target of $44.00 in the next 12 months, up nearly 33.02% from the previous closing price of $33.83. Analysts anticipate Tapestry Inc. stock to reach $60.00 by 2022, with the lowest price target being $31.00. In spite of this, 22 analysts ranked Tapestry Inc. stock as an Overweight at the end of 2022. On July 14, 2021, Goldman assigned a price target of “a Neutral” to the stock and initiated coverage with a $42.

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