Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Goldman Sachs Group, Inc. shares valued at $5,001,372 were sold by COLEMAN DENIS P. on Feb 23 ’24. At $394.43 per share, COLEMAN DENIS P. sold 12,680 shares. The insider’s holdings dropped to 29,417 shares worth approximately $11.69 million following the completion of this transaction.
Also, BERLINSKI PHILIP R. sold 11,650 shares, netting a total of over 4,550,948 in proceeds. Following the sale of shares at $390.64 each, the insider now holds 18,408 shares.
Before that, Ruemmler Kathryn H. had sold 7,277 shares from its account. In a trade valued at $2,763,877, the Chief Legal Officer, GC traded Goldman Sachs Group, Inc. shares for $379.81 each. Upon closing the transaction, the insider’s holdings decreased to 7,277 shares, worth approximately $2.58 million.
As published in a research note from Daiwa Securities on March 14, 2024, Goldman Sachs Group, Inc. [GS] has been rated up from a Neutral to an Outperform and the price target has been revised to $430 from $410. Analysts at Edward Jones started covering the stock with ‘”a Buy”‘ outlook in a report released in late February. As of January 30, 2024, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for GS. Earlier on January 18, 2024, BMO Capital Markets resumed its rating. Their recommendation was “a Market perform” for GS stock.
Analyzing GS Stock Performance
During the last five days, there has been a drop of approximately -2.16%. Over the course of the year, Goldman Sachs Group, Inc. shares have jumped approximately 3.04%. Shares of the company reached a 52-week high of $419.20 on 03/28/24 and a 52-week low of $372.07 on 01/19/24. A 50-day SMA is recorded $394.02, while a 200-day SMA reached $353.46. Nevertheless, trading volume fell to 2.17 million shares from 1.9 million shares the previous day.
Support And Resistance Levels for Goldman Sachs Group, Inc. (GS)
According to the 24-hour chart, there is a support level at 394.39, which, if violated, would cause prices to drop to 391.30. In the upper region, resistance lies at 401.02. The next price resistance is at 404.56. RSI (Relative Strength Index) is 46.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.76, which suggests the price will decrease in the coming days. Percent R is at 89.16%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Goldman Sachs Group, Inc. subject to short interest?
Stocks of Goldman Sachs Group, Inc. saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.7 million shares to 4.67 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.97 million shares. A jump of 14.99% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.06 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.06.
