Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Home Depot, Inc. shares valued at $13,266,019 were sold by Decker Edward P. on Feb 22 ’24. At $368.63 per share, Decker Edward P. sold 35,987 shares. The insider’s holdings dropped to 107,731 shares worth approximately $37.42 million following the completion of this transaction.
Also, Campbell Ann Marie sold 27,574 shares, netting a total of over 10,165,043 in proceeds. Following the sale of shares at $368.65 each, the insider now holds 65,520 shares.
Before that, Hourigan Timothy A. had sold 8,996 shares from its account. In a trade valued at $3,317,185, the EVP – Human Resources traded Home Depot, Inc. shares for $368.74 each. Upon closing the transaction, the insider’s holdings decreased to 8,996 shares, worth approximately $26.33 million.
As published in a research note from Telsey Advisory Group on April 01, 2024, Home Depot, Inc. [HD] has been retained to a Market perform and the price target has been revised to $360. Analysts at Mizuho started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of February 21, 2024, HSBC Securities has decreased its “Hold” rating to a “Reduce” for HD. Earlier on February 15, 2024, Telsey Advisory Group resumed its rating. Their recommendation was “a Market perform” for HD stock.
Analyzing HD Stock Performance
During the last five days, there has been a drop of approximately -2.88%. Over the course of the year, Home Depot, Inc. shares have jumped approximately 0.24%. Shares of the company reached a 52-week high of $396.87 on 03/21/24 and a 52-week low of $336.59 on 01/03/24. A 50-day SMA is recorded $369.55, while a 200-day SMA reached $332.62. Nevertheless, trading volume fell to 3.91 million shares from 4.81 million shares the previous day.
Support And Resistance Levels for Home Depot, Inc. (HD)
According to the 24-hour chart, there is a support level at 344.80, which, if violated, would cause prices to drop to 342.24. In the upper region, resistance lies at 350.92. The next price resistance is at 354.48. RSI (Relative Strength Index) is 32.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -14.82, which suggests the price will decrease in the coming days. Percent R is at 96.88%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Home Depot, Inc. subject to short interest?
Stocks of Home Depot, Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.73 million shares to 9.89 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 10.62 million shares. A decline of -7.38% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.96 of the overall float, the days-to-cover ratio (short ratio) decline to 2.96.
