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. Definitive Healthcare Corp. shares valued at $5,193,000 were purchased by Krantz Jason Ronald on Nov 07. At $11.54 per share, Krantz Jason Ronald acquired 450,000 shares. The insider’s holdings grew to 450,000 shares worth approximately $5.15 million following the completion of this transaction.
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Also, SEA VII Management, LLC sold 1,016,000 shares, netting a total of over 23,114,000 in proceeds. Following the sale of shares at $22.75 each, the insider now holds 2,508,971 shares.
Before that, Winn David Randall had sold 2,200,000 shares from its account. In a trade valued at $52,855,000, the Director traded Definitive Healthcare Corp. shares for $24.02 each. Upon closing the transaction, the insider’s holdings decreased to 2,200,000 shares, worth approximately $0.0.
As published in their initiating research note from BofA Securities on December 09, 2022, Definitive Healthcare Corp. [DH] has been a Neutral and the price target has been revised to $13. This represents a 11.92% premium over Wednesday’s closing price. Analysts at Needham started covering the stock with ‘”a Buy”‘ outlook in a report released in early July. Earlier on February 24, 2022, Canaccord Genuity upgraded its rating. Their new recommendation was “a Buy” for DH stock which previously was a “a Hold”.
Analyzing DH Stock Performance
On Wednesday, Definitive Healthcare Corp. [NASDAQ: DH] rose 0.26% to $11.45. The stock’s lowest price that day was $11.28, but it reached a high of $11.75 in the same session. During the last five days, there has been a drop of approximately -1.38%. Over the course of the year, Definitive Healthcare Corp. shares have jumped approximately 4.19%. Shares of the company reached a 52-week high of $14.03 on 02/02/23 and a 52-week low of $9.75 on 01/06/23. A 50-day SMA is recorded $12.03, while a 200-day SMA reached $16.76. Nevertheless, trading volume fell to 0.77 million shares from 2.43 million shares the previous day.
Support And Resistance Levels for Definitive Healthcare Corp. (DH)
According to the 24-hour chart, there is a support level at 11.24, which, if violated, would cause prices to drop to 11.02. In the upper region, resistance lies at 11.71. The next price resistance is at 11.96. RSI (Relative Strength Index) is 42.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.02, which suggests the price will decrease in the coming days. Percent R is at 78.59%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Definitive Healthcare Corp. subject to short interest?
Stocks of Definitive Healthcare Corp. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.42 million shares to 6.43 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 6.85 million shares. A decline of -6.53% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 10.25 of the overall float, the days-to-cover ratio (short ratio) decline to 10.25.
Which companies own the most shares of Definitive Healthcare Corp. (DH)?
According to Echo Street Capital Management LL filings, the company currently owns 5,751,074 shares, which is about 5.47% of the total DH shares outstanding. The investor’s shares have appreciated by 2,365,100 from its previous 13-F filing of 3385974.0 shares. With the completion of the buy transaction, JPMorgan Investment Management, I’s stake is now worth $50,784,877. Conestoga Capital Advisors LLC acquire a 20.86% interest valued at $42.95 million while The Vanguard Group, Inc. purchased a 655,106 stake. A total of 433,758 shares of Definitive Healthcare Corp. were bought by Riverbridge Partners LLC during the quarter, and -299,784 were sold by Weatherbie Capital LLC. In its current portfolio, ClearBridge Investments LLC holds 2,125,409 shares valued at $26.31 million.
In terms of Definitive Healthcare Corp. share price expectations, FactSet research, analysts set an average price target of $14.58 in the next 12 months, up nearly 31.35% from the previous closing price of $11.42. Analysts anticipate Definitive Healthcare Corp. stock to reach $17.00 by 2023, with the lowest price target being $11.00. In spite of this, 13 analysts ranked Definitive Healthcare Corp. stock as an Overweight at the end of 2023. On December 16, 2021, Morgan Stanley assigned a price target of “an Overweight” to the stock and upgraded coverage with a $40.