Opendoor Technologies Inc. [OPEN] Director makes an insider sale of 51,256 shares worth $0.18 million.


Opendoor Technologies Inc.’s recently made public that its Director Wu Eric Chung-Wei unloaded Company’s shares for reported $0.18 million on Aug 15. In the deal valued at $3.42 per share,51,256 shares were sold. As a result of this transaction, Wu Eric Chung-Wei now holds 20,079,420 shares worth roughly $ 78.11 million.

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Then, Wu Eric Chung-Wei sold 500,000 shares, generating $1,716,900 in total proceeds. Upon selling the shares at $3.43, the Director now owns 20,130,676 shares.

Before that, Meyer Megan D. sold 39,579 shares. Opendoor Technologies Inc. shares valued at $172,099 were divested by the President, Sell Direct & Svcs. at a price of $4.35 per share. As a result of the transaction, Meyer Megan D. now holds 2,828,949 shares, worth roughly $11.0 million.

Morgan Stanley initiated its Opendoor Technologies Inc. [OPEN] rating to an Equal-weight in a research note published on Friday, July 24, 2023; the price target was $4.25. PT values the company’s stock at a premium of 8.47 to its Friday closing price.

Price Performance Review of OPEN

On Friday, Opendoor Technologies Inc. [NASDAQ:OPEN] saw its stock fall -0.26% to $3.89. On the same session, the stock had its day’s lowest price of $3.87, but rose to a high of $4.18. Over the last five days, the stock has gained 15.09%. Opendoor Technologies Inc. shares have risen nearly 235.34% since the year began. Nevertheless, the stocks have fallen -10.16% over the past one year. While a 52-week high of $5.41 was reached on 08/01/23, a 52-week low of $0.92 was recorded on 01/06/23. SMA at 50 days reached $3.92, while 200 days put it at $2.34. A total of 17.81 million shares were traded, compared to the trading of 19.32 million shares in the previous session.

Levels Of Support And Resistance For OPEN Stock

The 24-hour chart illustrates a support level at 3.78, which if violated will result in even more drops to 3.67. On the upside, there is a resistance level at 4.09. A further resistance level may holdings at 4.29. The Relative Strength Index (RSI) on the 14-day chart is 55.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 25.89%. Stochastics %K at 80.48% indicates the stock is a selling.

How much short interest is there in Opendoor Technologies Inc.?

A steep rise in short interest was recorded in Opendoor Technologies Inc. stocks on Aug 14, 2023, growing by 4.05 million shares to a total of 68.38 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 64.33 million shares. There was a rise of 5.92%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.72% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.34.

Opendoor Technologies Inc. [OPEN] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 73,544,998 shares, or roughly 11.34% of the outstanding OPEN shares. In other words, the investor’s shares have risen by 6,150,965 from its previous 13-F filing of 67394033.0. Additionally, BlackRock Fund Advisors increased 93.77% of its stake after which the total value it holdings stand at $190,398,544, while Sylebra Capital Ltd. reduced -2.39% of its stake to hold $167.28 million in the firm. Over the last quarter, Slate Path Capital LP sold -3,376,735 shares of Opendoor Technologies Inc., while Renaissance Technologies LLC sold 6,112,900 shares. At present, First Trust Advisors LP is holding 15,996,727 shares valued at $81.74 million. BIT Capital GmbH owned 12,848,145 shares of the company at the time of its most recent 13F filing, worth $65.65 million.

According to FactSet, Opendoor Technologies Inc.’s share price will average $3.31 in the next year, based on opinions of analysts polled by the firm. This is down nearly -17.95 percent from its previous closing price of $3.90. Analysts expect Opendoor Technologies Inc. stock to reach the higher price of $7.00, while the lowest price estimate is $1.00. However, 12 analysts have rated OPEN stock as a Hold in their predictions for 2023.


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