Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. The Goldman Sachs Group Inc. shares valued at $2,989,086 were sold by GOLDMAN SACHS GROUP INC on Sep 14. At $27.03 per share, GOLDMAN SACHS GROUP INC sold 110,584 shares. The insider’s holdings dropped to 1,200,172 shares worth approximately $375.56 million following the completion of this transaction.
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Also, GOLDMAN SACHS GROUP INC sold 56,335 shares, netting a total of over 1,500,764 in proceeds. Following the sale of shares at $26.64 each, the insider now holds 1,081,693 shares.
Before that, GOLDMAN SACHS GROUP INC had sold 90,313 shares from its account. In a trade valued at $2,473,673, the Director traded The Goldman Sachs Group Inc. shares for $27.39 each. Upon closing the transaction, the insider’s holdings decreased to 90,313 shares, worth approximately $301.32 million.
As published in a research note from Odeon on September 06, 2022, The Goldman Sachs Group Inc. [GS] has been rated down from a Hold to a Sell. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late June. As of January 28, 2022, Odeon has decreased its “Buy” rating to a “Hold” for GS. Earlier on January 06, 2022, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for GS stock which previously was a “a Buy”.
Analyzing GS’s Price Performance
On Thursday, The Goldman Sachs Group Inc. [NYSE: GS] plunged -2.43% to $312.92. The stock’s lowest price that day was $311.20, but it reached a high of $323.385 in the same session. During the last five days, there has been a drop of approximately -5.64%. Over the course of the year, The Goldman Sachs Group Inc. shares have dropped approximately -18.20%. Shares of the company reached a 52-week high of $412.66 on 01/05/22 and a 52-week low of $277.84 on 07/14/22. A 50-day SMA is recorded $331.92, while a 200-day SMA reached $335.67. Nevertheless, trading volume fell to 2.23 million shares from 1.8 million shares the previous day.
Support And Resistance Levels for The Goldman Sachs Group Inc. (GS)
According to the 24-hour chart, there is a support level at 308.29, which, if violated, would cause prices to drop to 303.65. In the upper region, resistance lies at 320.47. The next price resistance is at 328.02. RSI (Relative Strength Index) is 34.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.01, which suggests the price will decrease in the coming days. Percent R is at 94.81%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is The Goldman Sachs Group Inc. subject to short interest?
Stocks of The Goldman Sachs Group Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.51 million shares to 5.02 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.51 million shares. A jump of 10.16% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.98 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.98.
Which companies own the most shares of The Goldman Sachs Group Inc. (GS)?
According to The Vanguard Group, Inc. filings, the company currently owns 29,062,107 shares, which is about 8.46% of the total GS shares outstanding. The investor’s shares have plunged by -160,629 from its previous 13-F filing of 29222736.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $6,854,188,634. BlackRock Fund Advisors reduced a -1.38% interest valued at $5.18 billion while T. Rowe Price Associates, Inc. purchased a 427,352 stake. A total of 1,838 shares of The Goldman Sachs Group Inc. were bought by Massachusetts Financial Services during the quarter, and 37,015 were bought by Dodge & Cox. In its current portfolio, Geode Capital Management LLC holds 5,972,720 shares valued at $1.99 billion.