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. HP Inc. shares valued at $220,441 were sold by MYERS MARIE on Mar 01. At $29.87 per share, MYERS MARIE sold 7,380 shares. The insider’s holdings dropped to 22,648 shares worth approximately $0.64 million following the completion of this transaction.
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Also, MYERS MARIE sold 7,380 shares, netting a total of over 214,315 in proceeds. Following the sale of shares at $29.04 each, the insider now holds 19,936 shares.
Before that, LORES ENRIQUE had sold 34,000 shares from its account. In a trade valued at $922,420, the President and CEO traded HP Inc. shares for $27.13 each. Upon closing the transaction, the insider’s holdings decreased to 34,000 shares, worth approximately $22.74 million.
As published in a research note from Credit Suisse on November 18, 2022, HP Inc. [HPQ] has been rated down from an Outperform to a Neutral. Analysts at Loop Capital downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early September. As of August 19, 2022, Wells Fargo has decreased its “an Equal weight” rating to a “an Underweight” for HPQ. Earlier on August 17, 2022, Credit Suisse initiated its rating. Their recommendation was “an Outperform” for HPQ stock.
Analyzing HPQ Stock Performance
On Wednesday, HP Inc. [NYSE: HPQ] rose 2.21% to $28.27. The stock’s lowest price that day was $27.60, but it reached a high of $28.28 in the same session. During the last five days, there has been a drop of approximately -2.04%. Over the course of the year, HP Inc. shares have jumped approximately 5.21%. Shares of the company reached a 52-week high of $31.02 on 02/02/23 and a 52-week low of $26.58 on 01/03/23. A 50-day SMA is recorded $28.74, while a 200-day SMA reached $30.09. Nevertheless, trading volume fell to 5.55 million shares from 8.36 million shares the previous day.
Support And Resistance Levels for HP Inc. (HPQ)
According to the 24-hour chart, there is a support level at 27.82, which, if violated, would cause prices to drop to 27.37. In the upper region, resistance lies at 28.50. The next price resistance is at 28.73. RSI (Relative Strength Index) is 42.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.90, which suggests the price will decrease in the coming days. Percent R is at 74.43%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is HP Inc. subject to short interest?
Stocks of HP Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.93 million shares to 29.21 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 30.14 million shares. A decline of -3.18% 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 HP Inc. (HPQ)?
According to Berkshire Hathaway, Inc. filings, the company currently owns 104,476,035 shares, which is about 10.64% of the total HPQ shares outstanding. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $2,608,257,846. BlackRock Fund Advisors reduced a -8.41% interest valued at $1.75 billion while Dodge & Cox sold a -1,987,754 stake. A total of -1,496,957 shares of HP Inc. were sold by SSgA Funds Management, Inc. during the quarter, and -1,082,780 were sold by PRIMECAP Management Co. In its current portfolio, Geode Capital Management LLC holds 18,966,148 shares valued at $552.67 million.
In terms of HP Inc. share price expectations, FactSet research, analysts set an average price target of $29.27 in the next 12 months, up nearly 8.46% from the previous closing price of $27.66. Analysts anticipate HP Inc. stock to reach $33.00 by 2023, with the lowest price target being $24.00. In spite of this, 19 analysts ranked HP Inc. stock as a Hold at the end of 2023. On July 05, 2022, Evercore ISI assigned a price target of “an In-line” to the stock and downgraded coverage with a $36.