Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Insulet Corporation shares valued at $1,891,338 were sold by Petrovic Shacey on Feb 28 ’24. At $162.92 per share, Petrovic Shacey sold 11,609 shares. The insider’s holdings dropped to 2,567 shares worth approximately $0.46 million following the completion of this transaction.
Also, BORIO LUCIANA sold 72 shares, netting a total of over 14,910 in proceeds. Following the sale of shares at $207.08 each, the insider now holds 2,278 shares.
Before that, Petrovic Shacey had sold 20,000 shares from its account. In a trade valued at $3,286,600, the Director traded Insulet Corporation shares for $164.33 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $0.46 million.
As published in a research note from Robert W. Baird on December 21, 2023, Insulet Corporation [PODD] has been rated up from a Neutral to an Outperform and the price target has been revised to $238 from $180. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in early December. As of October 02, 2023, Jefferies has increased its “Hold” rating to a “Buy” for PODD. Earlier on August 21, 2023, Citigroup upgraded its rating. Their new recommendation was “a Buy” for PODD stock which previously was a “a Neutral”.
Analyzing PODD Stock Performance
During the last five days, there has been a surge of approximately 7.61%. Over the course of the year, Insulet Corporation shares have dropped approximately -18.24%. Shares of the company reached a 52-week high of $217.46 on 01/02/24 and a 52-week low of $160.84 on 03/05/24. A 50-day SMA is recorded $177.82, while a 200-day SMA reached $195.52. Nevertheless, trading volume fell to 0.7 million shares from 0.94 million shares the previous day.
Support And Resistance Levels for Insulet Corporation (PODD)
According to the 24-hour chart, there is a support level at 173.90, which, if violated, would cause prices to drop to 170.39. In the upper region, resistance lies at 179.28. The next price resistance is at 181.15. RSI (Relative Strength Index) is 56.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 7.12, which suggests the price will increase in the coming days. Percent R is at 11.64%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Insulet Corporation subject to short interest?
Stocks of Insulet Corporation saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.44 million shares to 3.12 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 2.68 million shares. A jump of 14.1% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.46 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.46.
