Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Colgate-Palmolive Co. shares valued at $5,890,887 were sold by Wallace Noel R. on Feb 20 ’24. At $84.22 per share, Wallace Noel R. sold 69,948 shares. The insider’s holdings dropped to 286,881 shares worth approximately $24.83 million following the completion of this transaction.
Also, Daniels Jennifer sold 3,538 shares, netting a total of over 299,578 in proceeds. Following the sale of shares at $84.67 each, the insider now holds 59,698 shares.
Before that, Parameswaran Prabha had sold 56,836 shares from its account. In a trade valued at $4,775,378, the Grp Pres, Growth & Strategy traded Colgate-Palmolive Co. shares for $84.02 each. Upon closing the transaction, the insider’s holdings decreased to 56,836 shares, worth approximately $1.62 million.
Analysts at Raymond James upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in late January. As of December 15, 2023, BofA Securities has increased its “Neutral” rating to a “Buy” for CL. Earlier on November 13, 2023, Jefferies initiated its rating. Their recommendation was “a Buy” for CL stock.
Analyzing CL Stock Performance
During the last five days, there has been a drop of approximately -1.75%. Over the course of the year, Colgate-Palmolive Co. shares have jumped approximately 8.59%. Shares of the company reached a 52-week high of $90.37 on 03/28/24 and a 52-week low of $79.39 on 01/02/24. A 50-day SMA is recorded $86.70, while a 200-day SMA reached $78.50. Nevertheless, trading volume fell to 4.73 million shares from 3.18 million shares the previous day.
Support And Resistance Levels for Colgate-Palmolive Co. (CL)
According to the 24-hour chart, there is a support level at 86.09, which, if violated, would cause prices to drop to 85.63. In the upper region, resistance lies at 87.30. The next price resistance is at 88.05. RSI (Relative Strength Index) is 40.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.19, which suggests the price will decrease in the coming days. Percent R is at 95.25%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Colgate-Palmolive Co. subject to short interest?
Stocks of Colgate-Palmolive Co. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.16 million shares to 11.75 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 11.91 million shares. A decline of -1.36% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.08 of the overall float, the days-to-cover ratio (short ratio) decline to 3.08.
