A company insider recently sold 6,500 shares of Petco Health and Wellness Company Inc. [WOOF]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Petco Health and Wellness Company Inc. shares valued at $102,310 were sold by Tichy Justin on Jul 07. At $15.74 per share, Tichy Justin sold 6,500 shares. The insider’s holdings dropped to 78,142 shares worth approximately $1.03 million following the completion of this transaction.

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Also, Nuzzo Michael purchased 4,340 shares, netting a total of over 78,120 in proceeds. Following the buying of shares at $18.00 each, the insider now holds 254,341 shares.

Before that, COUGHLIN RON had added 23,290 shares to its account. In a trade valued at $400,821, the CEO & Chairman bought Petco Health and Wellness Company Inc. shares for $17.21 each. Upon closing the transaction, the insider’s holdings increased to 23,290 shares, worth approximately $3.67 million.

As published in their initiating research note from RBC Capital Mkts on September 07, 2022, Petco Health and Wellness Company Inc. [WOOF] has been an Outperform and the price target has been revised to $17. This represents a 22.41% premium over Wednesday’s closing price. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in mid May. As of December 16, 2021, Needham has initiated its “Buy” rating for WOOF. Earlier on December 06, 2021, Wedbush upgraded its rating. Their new recommendation was “an Outperform” for WOOF stock which previously was a “a Neutral”.

Analyzing WOOF’s Price Performance

On Wednesday, Petco Health and Wellness Company Inc. [NASDAQ: WOOF] plunged -3.16% to $13.19. The stock’s lowest price that day was $13.17, but it reached a high of $13.89 in the same session. During the last five days, there has been a drop of approximately -10.64%. Over the course of the year, Petco Health and Wellness Company Inc. shares have dropped approximately -33.35%. Shares of the company reached a 52-week high of $22.75 on 04/19/22 and a 52-week low of $12.88 on 07/27/22. A 50-day SMA is recorded $14.86, while a 200-day SMA reached $17.56. Nevertheless, trading volume fell to 2.09 million shares from 1.68 million shares the previous day.

Support And Resistance Levels for Petco Health and Wellness Company Inc. (WOOF)

According to the 24-hour chart, there is a support level at 12.94, which, if violated, would cause prices to drop to 12.70. In the upper region, resistance lies at 13.66. The next price resistance is at 14.14. RSI (Relative Strength Index) is 32.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.99, which suggests the price will decrease in the coming days. Percent R is at 99.25%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Petco Health and Wellness Company Inc. subject to short interest?

Stocks of Petco Health and Wellness Company Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 6.15 million shares to 24.45 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 18.3 million shares. A jump of 25.15% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 12.86 of the overall float, the days-to-cover ratio (short ratio) jumped to 12.86.

Which companies own the most shares of Petco Health and Wellness Company Inc. (WOOF)?

According to Canada Pension Plan Investment Bo filings, the company currently owns 59,765,368 shares, which is about 26.26% of the total WOOF shares outstanding. Mackenzie Financial Corp. acquire a 15.76% interest valued at $113.71 million while The Vanguard Group, Inc. purchased a 149,904 stake. A total of -425,926 shares of Petco Health and Wellness Company Inc. were bought by Allspring Global Investments LLC during the quarter, and 1,219,224 were bought by Neuberger Berman Investment Advis. In its current portfolio, ClearBridge Investments LLC holds 4,461,290 shares valued at $66.56 million.


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