Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Wells Fargo & Company shares valued at $1,008,788 were sold by Santos Kleber on May 03. At $44.44 per share, Santos Kleber sold 22,700 shares. The insider’s holdings dropped to 21,478 shares worth approximately $0.91 million following the completion of this transaction.
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As published in a research note from Citigroup on April 11, 2022, Wells Fargo & Company [WFC] has been rated up from a Neutral to a Buy. Analysts at Atlantic Equities upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early February. As of January 12, 2022, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for WFC. Earlier on January 03, 2022, Barclays upgraded its rating. Their new recommendation was “an Overweight” for WFC stock which previously was a “an Equal weight”.
Analyzing WFC’s Price Performance
On Wednesday, Wells Fargo & Company [NYSE: WFC] plunged -2.63% to $42.27. The stock’s lowest price that day was $42.24, but it reached a high of $43.81 in the same session. During the last five days, there has been a drop of approximately -2.33%. Over the course of the year, Wells Fargo & Company shares have dropped approximately -11.90%. Shares of the company reached a 52-week high of $60.30 on 02/10/22 and a 52-week low of $36.54 on 06/16/22. A 50-day SMA is recorded $43.74, while a 200-day SMA reached $47.15. Nevertheless, trading volume fell to 19.12 million shares from 19.5 million shares the previous day.
Support And Resistance Levels for Wells Fargo & Company (WFC)
According to the 24-hour chart, there is a support level at 41.74, which, if violated, would cause prices to drop to 41.20. In the upper region, resistance lies at 43.31. The next price resistance is at 44.34. RSI (Relative Strength Index) is 40.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.56, which suggests the price will decrease in the coming days. Percent R is at 99.23%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Wells Fargo & Company subject to short interest?
Stocks of Wells Fargo & Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.7 million shares to 31.81 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 34.51 million shares. A decline of -8.49% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.34 of the overall float, the days-to-cover ratio (short ratio) decline to 1.34.
Which companies own the most shares of Wells Fargo & Company (WFC)?
According to The Vanguard Group, Inc. filings, the company currently owns 308,256,892 shares, which is about 8.13% of the total WFC shares outstanding. The investor’s shares have appreciated by 405,820 from its previous 13-F filing of 307851072.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $7,052,055,612. SSgA Funds Management, Inc. reduced a -8.87% interest valued at $7.04 billion while Fidelity Management & Research Co sold a -8,502,248 stake. A total of -566,224 shares of Wells Fargo & Company were sold by Dodge & Cox during the quarter, and 16,552,773 were bought by T. Rowe Price Associates, Inc. In its current portfolio, Capital Research & Management Co holds 69,954,543 shares valued at $3.06 billion.
In terms of Wells Fargo & Company share price expectations, FactSet research, analysts set an average price target of $53.50 in the next 12 months, up nearly 19.79% from the previous closing price of $43.41. Analysts anticipate Wells Fargo & Company stock to reach $65.00 by 2022, with the lowest price target being $44.50. In spite of this, 28 analysts ranked Wells Fargo & Company stock as an Overweight at the end of 2022. On December 10, 2021, UBS assigned a price target of “a Buy” to the stock and resumed coverage with a $65.