Checking in on Poshmark Inc. (POSH) after recent insiders movement

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Poshmark Inc.’s recently made public that its Chief Operating Officer McDonald John Michael unloaded Company’s shares for reported $71220.0 on Oct 04. In the deal valued at $17.66 per share,4,034 shares were sold. As a result of this transaction, McDonald John Michael now holds 90,475 shares worth roughly $ 1.61 million.


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Then, Chandra Manish sold 1,876 shares, generating $33,121 in total proceeds. Upon selling the shares at $17.66, the President and CEO now owns 7,298 shares.

Before that, Brumana Rodrigo sold 2,699 shares. Poshmark Inc. shares valued at $29,948 were divested by the Chief Financial Officer at a price of $11.10 per share. As a result of the transaction, Brumana Rodrigo now holds 617,533 shares, worth roughly $10.99 million.

Barclays downgraded its Poshmark Inc. [POSH] rating to an Equal weight from a an Overweight in a research note published on Friday, October 05, 2022; the price target was increased to $18 from $17. PT values the company’s stock at a premium of 1.11 to its Friday closing price. A number of analysts have revised their coverage, including Wedbush’s analysts, who decreased its forecast for the stock in early October from “an Outperform” to “a Neutral”. Barclays also remained covering POSH and has increased its forecast on August 15, 2022 with a “an Overweight” recommendation from previously “an Equal weight” rating.

Price Performance Review of POSH

On Friday, Poshmark Inc. [NASDAQ:POSH] saw its stock fall -0.17% to $17.80. On the same session, the stock had its day’s lowest price of $17.78, but rose to a high of $17.85. Poshmark Inc. shares have risen nearly 4.52% since the year began. Nevertheless, the stocks have fallen -23.70% over the past one year. While a 52-week high of $24.82 was reached on 10/06/22, a 52-week low of $8.97 was recorded on 05/12/22. SMA at 50 days reached $15.31, while 200 days put it at $13.03. A total of 1.11 million shares were traded, compared to the trading of 1.15 million shares in the previous session.

Levels Of Support And Resistance For POSH Stock

The 24-hour chart illustrates a support level at 17.77, which if violated will result in even more drops to 17.74. On the upside, there is a resistance level at 17.84. A further resistance level may holdings at 17.88. The Relative Strength Index (RSI) on the 14-day chart is 68.35, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.82%. Stochastics %K at 72.73% indicates the stock is a holding.

How much short interest is there in Poshmark Inc.?

A steep rise in short interest was recorded in Poshmark Inc. stocks on Jul 14, 2022, growing by 0.22 million shares to a total of 4.93 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 4.71 million shares. There was a rise of 4.46%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 11.47% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.75.

Poshmark Inc. [POSH] – Who Are The Largest Shareholders?

In filings from Dorsey Asset Management LLC, it is revealed that the company now owns 4,740,775 shares, or roughly 8.80% of the outstanding POSH shares. In other words, the investor’s shares have risen by 547,448 from its previous 13-F filing of 4193327.0. Additionally, Temasek Holdings Pte Ltd. decreased -40.14% of its stake after which the total value it holdings stand at $56,015,768, while BlackRock Fund Advisors added 342.16% of its stake to hold $41.41 million in the firm. Over the last quarter, The Vanguard Group, Inc. sold -492,629 shares of Poshmark Inc., while Invenomic Capital Management LP sold 502,694 shares. At present, Russell Investment Management LLC is holding 1,673,679 shares valued at $26.23 million. Renaissance Technologies LLC owned 1,464,800 shares of the company at the time of its most recent 13F filing, worth $22.95 million.

According to FactSet, Poshmark Inc.’s share price will average $15.67 in the next year, based on opinions of analysts polled by the firm. This is down nearly -1.85 percent from its previous closing price of $17.83. Analysts expect Poshmark Inc. stock to reach the higher price of $18.00, while the lowest price estimate is $11.00. However, 11 analysts have rated POSH stock as a Hold in their predictions for 2022.

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