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. Prologis Inc shares valued at $2,793,038 were sold by Connor James B. on Dec 21 ’23. At $130.40 per share, Connor James B. sold 21,419 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Connor James B. sold 103,331 shares, netting a total of over 13,763,689 in proceeds. Following the sale of shares at $133.20 each, the insider now holds 21,419 shares.
Before that, FOTIADES GEORGE L had sold 10,711 shares from its account. In a trade valued at $1,327,908, the Director traded Prologis Inc shares for $123.98 each. Upon closing the transaction, the insider’s holdings decreased to 10,711 shares, worth approximately $0.0.
As published in a research note from Evercore ISI on March 18, 2024, Prologis Inc [PLD] has been rated down from an Outperform to an In-line and the price target has been revised to $136. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in mid December. As of December 05, 2023, Mizuho has decreased its “Buy” rating to a “Neutral” for PLD. Earlier on July 20, 2023, Exane BNP Paribas upgraded its rating. Their new recommendation was “an Outperform” for PLD stock which previously was a “a Neutral”.
Analyzing PLD Stock Performance
During the last five days, there has been a drop of approximately -3.56%. Over the course of the year, Prologis Inc shares have dropped approximately -9.79%. Shares of the company reached a 52-week high of $135.76 on 03/11/24 and a 52-week low of $118.89 on 04/11/24. A 50-day SMA is recorded $130.06, while a 200-day SMA reached $122.19. Nevertheless, trading volume fell to 4.06 million shares from 4.75 million shares the previous day.
Support And Resistance Levels for Prologis Inc (PLD)
According to the 24-hour chart, there is a support level at 118.66, which, if violated, would cause prices to drop to 117.06. In the upper region, resistance lies at 122.08. The next price resistance is at 123.90. RSI (Relative Strength Index) is 31.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.50, which suggests the price will decrease in the coming days. Percent R is at 88.55%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Prologis Inc subject to short interest?
Stocks of Prologis Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 1.0 million shares to 10.13 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 9.13 million shares. A jump of 9.87% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.37 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.37.
