Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. JPMorgan Chase & Co. shares valued at $4,999,999 were purchased by JPMORGAN CHASE & CO on Aug 12. At $3.05 per share, JPMORGAN CHASE & CO acquired 1,639,344 shares. The insider’s holdings grew to 51,594,927 shares worth approximately $5.8 billion following the completion of this transaction.
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Also, JPMORGAN CHASE & CO purchased 3,329 shares, netting a total of over 10,919 in proceeds. Following the buying of shares at $3.28 each, the insider now holds 49,955,583 shares.
Before that, BACON ASHLEY had sold 21,012 shares from its account. In a trade valued at $2,732,344, the Chief Risk Officer traded JPMorgan Chase & Co. shares for $130.04 each. Upon closing the transaction, the insider’s holdings decreased to 21,012 shares, worth approximately $20.09 million.
As published in a research note from Berenberg on July 18, 2022, JPMorgan Chase & Co. [JPM] has been rated up from a Sell to a Hold and the price target has been revised to $120. This represents a 6.26% premium over Wednesday’s closing price. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid July. As of May 24, 2022, Societe Generale has increased its “Hold” rating to a “Buy” for JPM. Earlier on May 03, 2022, Oppenheimer upgraded its rating. Their new recommendation was “an Outperform” for JPM stock which previously was a “a Perform”.
Analyzing JPM’s Price Performance
On Wednesday, JPMorgan Chase & Co. [NYSE: JPM] plunged -2.88% to $112.49. The stock’s lowest price that day was $112.42, but it reached a high of $116.60 in the same session. During the last five days, there has been a drop of approximately -3.13%. Over the course of the year, JPMorgan Chase & Co. shares have dropped approximately -28.96%. Shares of the company reached a 52-week high of $169.81 on 01/13/22 and a 52-week low of $106.06 on 07/14/22. A 50-day SMA is recorded $115.99, while a 200-day SMA reached $132.19. Nevertheless, trading volume fell to 12.56 million shares from 9.62 million shares the previous day.
Support And Resistance Levels for JPMorgan Chase & Co. (JPM)
According to the 24-hour chart, there is a support level at 111.07, which, if violated, would cause prices to drop to 109.66. In the upper region, resistance lies at 115.25. The next price resistance is at 118.02. RSI (Relative Strength Index) is 40.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.95, which suggests the price will decrease in the coming days. Percent R is at 93.98%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is JPMorgan Chase & Co. subject to short interest?
Stocks of JPMorgan Chase & Co. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.19 million shares to 17.73 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 18.92 million shares. A decline of -6.71% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.3 of the overall float, the days-to-cover ratio (short ratio) decline to 1.3.
Which companies own the most shares of JPMorgan Chase & Co. (JPM)?
According to The Vanguard Group, Inc. filings, the company currently owns 257,458,554 shares, which is about 8.78% of the total JPM shares outstanding. The investor’s shares have appreciated by 2,511,661 from its previous 13-F filing of 254946893.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $14,799,291,167. BlackRock Fund Advisors reduced a -4.82% interest valued at $14.69 billion while Geode Capital Management LLC purchased a 694,644 stake. A total of 1,141,471 shares of JPMorgan Chase & Co. were bought by Wellington Management Co. LLP during the quarter, and -5,898,912 were sold by Capital Research & Management Co. In its current portfolio, Northern Trust Investments, Inc. holds 34,786,756 shares valued at $3.96 billion.
In terms of JPMorgan Chase & Co. share price expectations, FactSet research, analysts set an average price target of $136.00 in the next 12 months, up nearly 16.55% from the previous closing price of $115.83. Analysts anticipate JPMorgan Chase & Co. stock to reach $162.00 by 2022, with the lowest price target being $117.00. In spite of this, 27 analysts ranked JPMorgan Chase & Co. stock as an Overweight at the end of 2022. On February 14, 2022, Jefferies assigned a price target of “a Hold” to the stock and downgraded coverage with a $155.