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. Definitive Healthcare Corp. shares valued at $23,114,000 were sold by SEA VII Management, LLC on Aug 09. At $22.75 per share, SEA VII Management, LLC sold 1,016,000 shares. The insider’s holdings dropped to 2,508,971 shares worth approximately $42.45 million following the completion of this transaction.
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Also, SEA VII Management, LLC sold 1,100,000 shares, netting a total of over 26,950,000 in proceeds. Following the sale of shares at $24.50 each, the insider now holds 2,508,971 shares.
Before that, Winn David Randall had sold 2,200,000 shares from its account. In a trade valued at $52,855,000, the Director traded Definitive Healthcare Corp. shares for $24.02 each. Upon closing the transaction, the insider’s holdings decreased to 2,200,000 shares, worth approximately $0.0.
As published in their initiating research note from Needham on July 06, 2022, Definitive Healthcare Corp. [DH] has been a Buy and the price target has been revised to $30. This represents a 43.6% premium over Wednesday’s closing price. As of February 24, 2022, Canaccord Genuity has increased its “Hold” rating to a “Buy” for DH. Earlier on December 16, 2021, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for DH stock which previously was a “an Equal-weight”.
Analyzing DH’s Price Performance
On Wednesday, Definitive Healthcare Corp. [NASDAQ: DH] rose 0.83% to $16.92. The stock’s lowest price that day was $16.58, but it reached a high of $17.53 in the same session. During the last five days, there has been a drop of approximately -13.01%. Over the course of the year, Definitive Healthcare Corp. shares have dropped approximately -38.09%. Shares of the company reached a 52-week high of $30.11 on 08/04/22 and a 52-week low of $14.76 on 05/12/22. A 50-day SMA is recorded $22.38, while a 200-day SMA reached $22.77. Nevertheless, trading volume fell to 1.07 million shares from 0.46 million shares the previous day.
Support And Resistance Levels for Definitive Healthcare Corp. (DH)
According to the 24-hour chart, there is a support level at 16.49, which, if violated, would cause prices to drop to 16.06. In the upper region, resistance lies at 17.44. The next price resistance is at 17.96. RSI (Relative Strength Index) is 29.57 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.07, which suggests the price will decrease in the coming days. Percent R is at 93.56%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Definitive Healthcare Corp. subject to short interest?
Stocks of Definitive Healthcare Corp. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.62 million shares to 3.95 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.33 million shares. A jump of 15.7% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.49 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.49.
Which companies own the most shares of Definitive Healthcare Corp. (DH)?
According to Echo Street Capital Management LL filings, the company currently owns 4,101,515 shares, which is about 4.08% of the total DH shares outstanding. The investor’s shares have plunged by -1,410,667 from its previous 13-F filing of 5512182.0 shares. With the completion of the buy transaction, Conestoga Capital Advisors LLC’s stake is now worth $71,060,208. JPMorgan Investment Management, I acquire a 20.34% interest valued at $57.77 million while The Vanguard Group, Inc. purchased a 454,999 stake. A total of 2,243,781 shares of Definitive Healthcare Corp. were bought by Riverbridge Partners LLC during the quarter, and 116,258 were bought by Neuberger Berman Investment Advis. In its current portfolio, BAMCO, Inc. holds 2,096,998 shares valued at $42.11 million.
In terms of Definitive Healthcare Corp. share price expectations, FactSet research, analysts set an average price target of $28.60 in the next 12 months, up nearly 75.8% from the previous closing price of $16.78. Analysts anticipate Definitive Healthcare Corp. stock to reach $34.00 by 2022, with the lowest price target being $23.00. In spite of this, 11 analysts ranked Definitive Healthcare Corp. stock as an Overweight at the end of 2022. On December 02, 2021, Jefferies assigned a price target of “a Buy” to the stock and initiated coverage with a $36.