Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Extra Space Storage Inc. shares valued at $800,350 were sold by Margolis Joseph D on Apr 04. At $160.07 per share, Margolis Joseph D sold 5,000 shares. The insider’s holdings dropped to 15,144 shares worth approximately $2.2 million following the completion of this transaction.
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Also, Herrington Matthew T sold 650 shares, netting a total of over 107,738 in proceeds. Following the sale of shares at $165.75 each, the insider now holds 6,405 shares.
Before that, McNeal Gwyn Goodson had sold 1,500 shares from its account. In a trade valued at $246,000, the EVP/Chief Legal Officer traded Extra Space Storage Inc. shares for $164.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,500 shares, worth approximately $4.69 million.
Analyzing EXR Stock Performance
On Thursday, Extra Space Storage Inc. [NYSE: EXR] plunged -0.73% to $145.39. The stock’s lowest price that day was $144.395, but it reached a high of $147.30 in the same session. During the last five days, there has been a drop of approximately -2.54%. Over the course of the year, Extra Space Storage Inc. shares have dropped approximately -1.22%. Shares of the company reached a 52-week high of $170.30 on 03/03/23 and a 52-week low of $139.97 on 01/05/23. A 50-day SMA is recorded $154.16, while a 200-day SMA reached $164.45. Nevertheless, trading volume fell to 0.65 million shares from 0.87 million shares the previous day.
Support And Resistance Levels for Extra Space Storage Inc. (EXR)
According to the 24-hour chart, there is a support level at 144.09, which, if violated, would cause prices to drop to 142.79. In the upper region, resistance lies at 146.99. The next price resistance is at 148.60. RSI (Relative Strength Index) is 35.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.26, which suggests the price will decrease in the coming days. Percent R is at 92.64%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Extra Space Storage Inc. subject to short interest?
Stocks of Extra Space Storage Inc. saw a sharp rise in short interest on May 14, 2023 jumping by 2.04 million shares to 12.33 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 10.29 million shares. A jump of 16.55% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 10.53 of the overall float, the days-to-cover ratio (short ratio) jumped to 10.53.
Which companies own the most shares of Extra Space Storage Inc. (EXR)?
According to The Vanguard Group, Inc. filings, the company currently owns 21,662,520 shares, which is about 16.05% of the total EXR shares outstanding. The investor’s shares have plunged by -2,882 from its previous 13-F filing of 21665402.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $2,095,062,699. A total of 474,396 shares of Extra Space Storage Inc. were bought by Principal Global Investors LLC during the quarter, and -62,091 were sold by Cohen & Steers Capital Management. In its current portfolio, Geode Capital Management LLC holds 3,183,153 shares valued at $483.97 million.
In terms of Extra Space Storage Inc. share price expectations, FactSet research, analysts set an average price target of $171.50 in the next 12 months, up nearly 17.78% from the previous closing price of $146.46. Analysts anticipate Extra Space Storage Inc. stock to reach $189.00 by 2023, with the lowest price target being $145.00. In spite of this, 13 analysts ranked Extra Space Storage Inc. stock as an Overweight at the end of 2023.