Selling Buzz: PG&E Corporation [PCG] Chief Executive Officer Poppe Patricia K sells 83,330 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. PG&E Corporation shares valued at $1,083,290 were sold by Poppe Patricia K on Sep 08. At $13.00 per share, Poppe Patricia K sold 83,330 shares. The insider’s holdings dropped to 704,187 shares worth approximately $9.13 million following the completion of this transaction.

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Also, PG&E Fire Victim Trust sold 60,000,000 shares, netting a total of over 722,400,000 in proceeds. Following the sale of shares at $12.04 each, the insider now holds 377,743,590 shares.

Before that, PG&E Fire Victim Trust had sold 40,000,000 shares from its account. In a trade valued at $483,600,000, the 10% Owner traded PG&E Corporation shares for $12.09 each. Upon closing the transaction, the insider’s holdings decreased to 40,000,000 shares, worth approximately $5.67 billion.

As published in their initiating research note from Credit Suisse on April 26, 2022, PG&E Corporation [PCG] has been an Outperform and the price target has been revised to $17. This represents a 23.76% premium over Thursday’s closing price. Analysts at RBC Capital Mkts upgraded the stock from ‘”a Sector perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid August. As of May 03, 2021, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for PCG. Earlier on March 04, 2021, Wells Fargo upgraded its rating. Their new recommendation was “an Equal weight” for PCG stock which previously was a “an Underweight”.

Analyzing PCG’s Price Performance

On Thursday, PG&E Corporation [NYSE: PCG] plunged -0.38% to $12.96. The stock’s lowest price that day was $12.725, but it reached a high of $13.17 in the same session. During the last five days, there has been a drop of approximately -1.14%. Over the course of the year, PG&E Corporation shares have jumped approximately 6.75%. Shares of the company reached a 52-week high of $13.53 on 09/20/22 and a 52-week low of $9.64 on 06/23/22. A 50-day SMA is recorded $11.86, while a 200-day SMA reached $11.78. Nevertheless, trading volume fell to 15.01 million shares from 14.54 million shares the previous day.

Support And Resistance Levels for PG&E Corporation (PCG)

According to the 24-hour chart, there is a support level at 12.73, which, if violated, would cause prices to drop to 12.51. In the upper region, resistance lies at 13.18. The next price resistance is at 13.40. RSI (Relative Strength Index) is 57.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.13, which suggests the price will decrease in the coming days. Percent R is at 36.74%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is PG&E Corporation subject to short interest?

Stocks of PG&E Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.15 million shares to 81.63 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 83.78 million shares. A decline of -2.63% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.23 of the overall float, the days-to-cover ratio (short ratio) decline to 5.23.

Which companies own the most shares of PG&E Corporation (PCG)?

According to Capital Research & Management Co filings, the company currently owns 186,412,554 shares, which is about 9.38% of the total PCG shares outstanding. The investor’s shares have appreciated by 13,723,548 from its previous 13-F filing of 172689006.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $2,294,229,463. Fidelity Management & Research Co acquire a 46.35% interest valued at $1.97 billion while Third Point LLC sold a -11,600,000 stake. A total of -3,661,810 shares of PG&E Corporation were sold by BlackRock Fund Advisors during the quarter, and -24,838,095 were sold by T. Rowe Price Associates, Inc.. In its current portfolio, Capital Research & Management Co holds 45,678,641 shares valued at $563.22 million.

In terms of PG&E Corporation share price expectations, FactSet research, analysts set an average price target of $16.46 in the next 12 months, up nearly 22.98% from the previous closing price of $13.01. Analysts anticipate PG&E Corporation stock to reach $19.00 by 2022, with the lowest price target being $14.00. In spite of this, 16 analysts ranked PG&E Corporation stock as an Overweight at the end of 2022. On January 06, 2021, Wells Fargo assigned a price target of “an Underweight” to the stock and downgraded coverage with a $13.


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