Taking a look at what insiders are doing to gauge the Poshmark Inc. (POSH)’s direction

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. Poshmark Inc. shares valued at $29,948 were sold by Brumana Rodrigo on Sep 06. At $11.10 per share, Brumana Rodrigo sold 2,699 shares. The insider’s holdings dropped to 617,533 shares worth approximately $8.43 million following the completion of this transaction.

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Also, McDonald John Michael sold 4,778 shares, netting a total of over 53,016 in proceeds. Following the sale of shares at $11.10 each, the insider now holds 90,475 shares.

Before that, McDonald John Michael had sold 4,298 shares from its account. In a trade valued at $45,959, the Chief Operating Officer traded Poshmark Inc. shares for $10.69 each. Upon closing the transaction, the insider’s holdings decreased to 4,298 shares, worth approximately $1.15 million.

As published in a research note from Barclays on August 15, 2022, Poshmark Inc. [POSH] has been rated up from an Equal weight to an Overweight and the price target has been revised to $17 from $13. This represents a 19.71% premium over Thursday’s closing price. As of June 30, 2022, Raymond James has decreased its “an Outperform” rating to a “Mkt perform” for POSH. Earlier on June 01, 2022, JMP Securities downgraded its rating. Their new recommendation was “a Mkt perform” for POSH stock which previously was a “a Mkt outperform”.

Analyzing POSH’s Price Performance

On Thursday, Poshmark Inc. [NASDAQ: POSH] plunged -0.80% to $13.65. The stock’s lowest price that day was $13.48, but it reached a high of $13.88 in the same session. During the last five days, there has been a drop of approximately -6.83%. Over the course of the year, Poshmark Inc. shares have dropped approximately -19.85%. Shares of the company reached a 52-week high of $17.90 on 01/03/22 and a 52-week low of $8.97 on 05/12/22. A 50-day SMA is recorded $11.83, while a 200-day SMA reached $13.07. Nevertheless, trading volume fell to 0.99 million shares from 0.98 million shares the previous day.

Support And Resistance Levels for Poshmark Inc. (POSH)

According to the 24-hour chart, there is a support level at 13.46, which, if violated, would cause prices to drop to 13.27. In the upper region, resistance lies at 13.86. The next price resistance is at 14.07. RSI (Relative Strength Index) is 58.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.77, which suggests the price will decrease in the coming days. Percent R is at 30.71%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Poshmark Inc. subject to short interest?

Stocks of Poshmark Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.22 million shares to 4.93 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.71 million shares. A jump of 4.46% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.75 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.75.

Which companies own the most shares of Poshmark Inc. (POSH)?

According to Dorsey Asset Management LLC filings, the company currently owns 4,740,775 shares, which is about 8.80% of the total POSH shares outstanding. The investor’s shares have appreciated by 547,448 from its previous 13-F filing of 4193327.0 shares. With the completion of the sale transaction, Temasek Holdings Pte Ltd.’s stake is now worth $38,678,405. BlackRock Fund Advisors acquire a 342.16% interest valued at $28.59 million while The Vanguard Group, Inc. sold a -492,629 stake. A total of 502,694 shares of Poshmark Inc. were sold by Invenomic Capital Management LP during the quarter, and -42,522 were sold by Russell Investment Management LLC. In its current portfolio, Renaissance Technologies LLC holds 1,464,800 shares valued at $15.85 million.

In terms of Poshmark Inc. share price expectations, FactSet research, analysts set an average price target of $13.25 in the next 12 months, down nearly -9.16% from the previous closing price of $13.76. Analysts anticipate Poshmark Inc. stock to reach $17.00 by 2022, with the lowest price target being $11.00. In spite of this, 13 analysts ranked Poshmark Inc. stock as a Hold at the end of 2022. On April 25, 2022, Goldman assigned a price target of “a Neutral” to the stock and resumed coverage with a $14.


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