Opendoor Technologies Inc. [OPEN] Chief Executive Officer makes an insider sale of 394,700 shares worth 535,174.


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. Opendoor Technologies Inc. shares valued at $535,174 were sold by WHEELER CARRIE on Mar 01. At $1.36 per share, WHEELER CARRIE sold 394,700 shares. The insider’s holdings dropped to 18,666,123 shares worth approximately $31.17 million following the completion of this transaction.

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Also, Wu Eric Chung-Wei sold 52,335 shares, netting a total of over 118,162 in proceeds. Following the sale of shares at $2.26 each, the insider now holds 30,679,758 shares.

Before that, Wu Eric Chung-Wei had sold 100,000 shares from its account. In a trade valued at $191,930, the Director traded Opendoor Technologies Inc. shares for $1.92 each. Upon closing the transaction, the insider’s holdings decreased to 100,000 shares, worth approximately $51.32 million.

As published in a research note from Oppenheimer on February 27, 2023, Opendoor Technologies Inc. [OPEN] has been rated down from an Outperform to a Perform. Analysts at Truist downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late December. As of December 13, 2022, Citigroup has initiated its “Neutral” rating for OPEN. Earlier on October 17, 2022, Goldman downgraded its rating. Their new recommendation was “a Sell” for OPEN stock which previously was a “a Neutral”.

Analyzing OPEN Stock Performance

On Thursday, Opendoor Technologies Inc. [NASDAQ: OPEN] rose 3.09% to $1.67. The stock’s lowest price that day was $1.54, but it reached a high of $1.70 in the same session. During the last five days, there has been a surge of approximately 23.25%. Over the course of the year, Opendoor Technologies Inc. shares have jumped approximately 43.97%. Shares of the company reached a 52-week high of $3.0500 on 02/02/23 and a 52-week low of $1.0300 on 01/06/23. A 50-day SMA is recorded $1.7354, while a 200-day SMA reached $3.2267. Nevertheless, trading volume fell to 27.64 million shares from 20.23 million shares the previous day.

Support And Resistance Levels for Opendoor Technologies Inc. (OPEN)

According to the 24-hour chart, there is a support level at 1.5733, which, if violated, would cause prices to drop to 1.4767. In the upper region, resistance lies at 1.7333. The next price resistance is at 1.7967. RSI (Relative Strength Index) is 51.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.1160, which suggests the price will decrease in the coming days. Percent R is at 5.02%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Opendoor Technologies Inc. subject to short interest?

Stocks of Opendoor Technologies Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 4.41 million shares to 88.37 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 83.96 million shares. A jump of 4.99% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.52 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.52.

Which companies own the most shares of Opendoor Technologies Inc. (OPEN)?

According to The Vanguard Group, Inc. filings, the company currently owns 67,749,786 shares, which is about 10.68% of the total OPEN shares outstanding. The investor’s shares have appreciated by 5,313,063 from its previous 13-F filing of 62436723.0 shares. With the completion of the buy transaction, Goldman Sachs & Co. LLC’s stake is now worth $64,500,974. Sylebra Capital Ltd. acquire a 0.59% interest valued at $46.71 million while Slate Path Capital LP purchased a 12,332,691 stake. A total of 2,910,499 shares of Opendoor Technologies Inc. were bought by BlackRock Fund Advisors during the quarter, and 7,848,339 were bought by First Trust Advisors LP. In its current portfolio, NBC Global Finance Ltd. holds 12,935,400 shares valued at $18.63 million.

In terms of Opendoor Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $3.48 in the next 12 months, up nearly 85.19% from the previous closing price of $1.62. Analysts anticipate Opendoor Technologies Inc. stock to reach $10.00 by 2023, with the lowest price target being $1.00. In spite of this, 12 analysts ranked Opendoor Technologies Inc. stock as a Hold at the end of 2023. On July 28, 2022, JP Morgan assigned a price target of “an Overweight” to the stock and initiated coverage with a $9.


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