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. The Duckhorn Portfolio Inc. shares valued at $96,250,000 were sold by Mallard Holdco, LLC on Jul 11. At $19.25 per share, Mallard Holdco, LLC sold 5,000,000 shares. The insider’s holdings dropped to 69,150,301 shares worth approximately $1.04 billion following the completion of this transaction.
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Also, Rasmuson Zach sold 25,000 shares, netting a total of over 504,548 in proceeds. Following the sale of shares at $20.18 each, the insider now holds 422,685 shares.
Before that, Ryan Alex had sold 25,942 shares from its account. In a trade valued at $567,542, the insider traded The Duckhorn Portfolio Inc. shares for $21.88 each. Upon closing the transaction, the insider’s holdings decreased to 25,942 shares, worth approximately $23.64 million.
As published in a research note from JP Morgan on September 15, 2022, The Duckhorn Portfolio Inc. [NAPA] has been rated down from an Overweight to a Neutral and the price target has been revised to $19 from $24. This represents a 20.68% premium over Thursday’s closing price. As of March 28, 2022, RBC Capital Mkts has increased its “Sector perform” rating to a “an Outperform” for NAPA. Earlier on April 12, 2021, RBC Capital Mkts initiated its rating. Their recommendation was “a Sector perform” for NAPA stock.
Analyzing NAPA’s Price Performance
On Thursday, The Duckhorn Portfolio Inc. [NYSE: NAPA] plunged -10.62% to $15.07. The stock’s lowest price that day was $14.95, but it reached a high of $16.06 in the same session. During the last five days, there has been a drop of approximately -17.56%. Over the course of the year, The Duckhorn Portfolio Inc. shares have dropped approximately -35.43%. Shares of the company reached a 52-week high of $23.57 on 01/04/22 and a 52-week low of $14.95 on 09/15/22. A 50-day SMA is recorded $18.49, while a 200-day SMA reached $19.53. Nevertheless, trading volume fell to 1.76 million shares from 0.59 million shares the previous day.
Support And Resistance Levels for The Duckhorn Portfolio Inc. (NAPA)
According to the 24-hour chart, there is a support level at 14.66, which, if violated, would cause prices to drop to 14.25. In the upper region, resistance lies at 15.77. The next price resistance is at 16.47. RSI (Relative Strength Index) is 15.34 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.55, which suggests the price will decrease in the coming days. Percent R is at 97.10%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is The Duckhorn Portfolio Inc. subject to short interest?
Stocks of The Duckhorn Portfolio Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.93 million shares to 4.03 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.1 million shares. A jump of 23.08% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.12 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.12.
Which companies own the most shares of The Duckhorn Portfolio Inc. (NAPA)?
According to Select Equity Group LP filings, the company currently owns 6,971,781 shares, which is about 6.05% of the total NAPA shares outstanding. The investor’s shares have appreciated by 404,868 from its previous 13-F filing of 6566913.0 shares. With the completion of the buy transaction, Wasatch Advisors, Inc.’s stake is now worth $86,747,051. The Vanguard Group, Inc. acquire a 2.01% interest valued at $62.96 million while Driehaus Capital Management LLC purchased a 240,610 stake. A total of -40,300 shares of The Duckhorn Portfolio Inc. were bought by Federated Global Investment Manag during the quarter, and 8,065 were bought by BlackRock Fund Advisors. In its current portfolio, Westwood Management Corp. holds 1,390,413 shares valued at $25.36 million.
In terms of The Duckhorn Portfolio Inc. share price expectations, FactSet research, analysts set an average price target of $22.38 in the next 12 months, up nearly 33.45% from the previous closing price of $16.86. Analysts anticipate The Duckhorn Portfolio Inc. stock to reach $26.00 by 2022, with the lowest price target being $19.00. In spite of this, 8 analysts ranked The Duckhorn Portfolio Inc. stock as an Overweight at the end of 2022. On April 12, 2021, JP Morgan assigned a price target of “an Overweight” to the stock and initiated coverage with a $20.