The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Bentley Systems Inc shares valued at $4,400,439 were sold by Bentley Keith A. on Mar 07 ’24. At $49.48 per share, Bentley Keith A. sold 88,925 shares. The insider’s holdings dropped to 17,164,179 shares worth approximately $857.18 million following the completion of this transaction.
Also, Bentley Keith A. sold 200,437 shares, netting a total of over 9,989,829 in proceeds. Following the sale of shares at $49.84 each, the insider now holds 17,253,104 shares.
Before that, Bentley Keith A. had sold 105,020 shares from its account. In a trade valued at $5,122,252, the Director traded Bentley Systems Inc shares for $48.77 each. Upon closing the transaction, the insider’s holdings decreased to 105,020 shares, worth approximately $871.63 million.
As published in their initiating research note from William Blair on March 28, 2024, Bentley Systems Inc [BSY] has been an Outperform. Analysts at Rosenblatt upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late February. As of August 09, 2023, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for BSY. Earlier on June 14, 2023, Piper Sandler initiated its rating. Their recommendation was “an Overweight” for BSY stock.
Analyzing BSY Stock Performance
During the last five days, there has been a surge of approximately 1.75%. Over the course of the year, Bentley Systems Inc shares have dropped approximately -4.29%. Shares of the company reached a 52-week high of $54.23 on 02/16/24 and a 52-week low of $46.34 on 01/05/24. A 50-day SMA is recorded $50.70, while a 200-day SMA reached $50.69. Nevertheless, trading volume fell to 1.56 million shares from 0.8 million shares the previous day.
Support And Resistance Levels for Bentley Systems Inc (BSY)
According to the 24-hour chart, there is a support level at 49.65, which, if violated, would cause prices to drop to 49.36. In the upper region, resistance lies at 50.44. The next price resistance is at 50.94. RSI (Relative Strength Index) is 47.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.35, which suggests the price will decrease in the coming days. Percent R is at 68.28%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Bentley Systems Inc subject to short interest?
Stocks of Bentley Systems Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.36 million shares to 8.44 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.08 million shares. A jump of 4.27% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.21 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.21.
