Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Gap, Inc. shares valued at $485,880 were sold by Breitbard Mark on Mar 26 ’24. At $27.94 per share, Breitbard Mark sold 17,392 shares. The insider’s holdings dropped to 123,985 shares worth approximately $2.9 million following the completion of this transaction.
Also, O’Connell Katrina sold 9,818 shares, netting a total of over 274,270 in proceeds. Following the sale of shares at $27.94 each, the insider now holds 0 shares.
Before that, Gruber Julie had sold 9,414 shares from its account. In a trade valued at $262,990, the Chief Legal&Compliance Officer traded Gap, Inc. shares for $27.94 each. Upon closing the transaction, the insider’s holdings decreased to 9,414 shares, worth approximately $32371.760000000002.
As published in a research note from Telsey Advisory Group on March 08, 2024, Gap, Inc. [GPS] has been retained to a Market perform and the price target has been revised to $22. Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in late February. As of November 17, 2023, Telsey Advisory Group has reiterated its “Market perform” rating for GPS. Earlier on November 07, 2023, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for GPS stock.
Analyzing GPS Stock Performance
During the last five days, there has been a drop of approximately -5.27%. Over the course of the year, Gap, Inc. shares have jumped approximately 11.86%. Shares of the company reached a 52-week high of $28.59 on 03/21/24 and a 52-week low of $18.34 on 01/18/24. A 50-day SMA is recorded $22.18, while a 200-day SMA reached $16.01. Nevertheless, trading volume fell to 7.51 million shares from 8.08 million shares the previous day.
Support And Resistance Levels for Gap, Inc. (GPS)
According to the 24-hour chart, there is a support level at 22.80, which, if violated, would cause prices to drop to 22.20. In the upper region, resistance lies at 23.86. The next price resistance is at 24.32. RSI (Relative Strength Index) is 44.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.52, which suggests the price will decrease in the coming days. Percent R is at 87.46%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Gap, Inc. subject to short interest?
Stocks of Gap, Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 4.16 million shares to 33.74 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 29.58 million shares. A jump of 12.33% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.99 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.99.
