Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Costco Wholesale Corp shares valued at $1,787,150 were sold by Callans Patrick J on Mar 11 ’24. At $714.86 per share, Callans Patrick J sold 2,500 shares. The insider’s holdings dropped to 62,895 shares worth approximately $46.06 million following the completion of this transaction.
Also, Adamo Claudine sold 1,500 shares, netting a total of over 1,072,238 in proceeds. Following the sale of shares at $714.83 each, the insider now holds 6,695 shares.
Before that, DECKER SUSAN L had sold 1,442 shares from its account. In a trade valued at $1,043,257, the Director traded Costco Wholesale Corp shares for $723.48 each. Upon closing the transaction, the insider’s holdings decreased to 1,442 shares, worth approximately $9.08 million.
As published in a research note from Gordon Haskett on April 03, 2024, Costco Wholesale Corp [COST] has been rated down from a Buy to a Accumulate and the price target has been revised to $775. Analysts at Telsey Advisory Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in early March. As of March 04, 2024, Telsey Advisory Group has reiterated its “an Outperform” rating for COST. Earlier on February 06, 2024, Telsey Advisory Group resumed its rating. Their recommendation was “an Outperform” for COST stock.
Analyzing COST Stock Performance
During the last five days, there has been a surge of approximately 3.90%. Over the course of the year, Costco Wholesale Corp shares have jumped approximately 10.95%. Shares of the company reached a 52-week high of $787.08 on 03/07/24 and a 52-week low of $640.51 on 01/04/24. A 50-day SMA is recorded $729.09, while a 200-day SMA reached $621.18. Nevertheless, trading volume fell to 2.01 million shares from 1.83 million shares the previous day.
Support And Resistance Levels for Costco Wholesale Corp (COST)
According to the 24-hour chart, there is a support level at 726.40, which, if violated, would cause prices to drop to 720.46. In the upper region, resistance lies at 736.04. The next price resistance is at 739.74. RSI (Relative Strength Index) is 54.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.82, which suggests the price will increase in the coming days. Percent R is at 26.18%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Costco Wholesale Corp subject to short interest?
Stocks of Costco Wholesale Corp saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.37 million shares to 6.36 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 6.73 million shares. A decline of -5.82% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.54 of the overall float, the days-to-cover ratio (short ratio) decline to 2.54.
