Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Builders Firstsource Inc shares valued at $1,948,395 were sold by Boydston Cory Jacobs on Mar 13 ’24. At $200.02 per share, Boydston Cory Jacobs sold 9,741 shares. The insider’s holdings dropped to 18,997 shares worth approximately $3.46 million following the completion of this transaction.
Also, Boydston Cory Jacobs sold 7,759 shares, netting a total of over 1,551,800 in proceeds. Following the sale of shares at $200.00 each, the insider now holds 28,738 shares.
Before that, FARMER MICHAEL ALAN had sold 3,318 shares from its account. In a trade valued at $483,234, the President – Commercial Ops traded Builders Firstsource Inc shares for $145.64 each. Upon closing the transaction, the insider’s holdings decreased to 3,318 shares, worth approximately $11.06 million.
As published in a research note from BofA Securities on January 29, 2024, Builders Firstsource Inc [BLDR] has been rated up from a Neutral to a Buy and the price target has been revised to $200 from $153. Analysts at Oppenheimer started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid January. As of January 04, 2024, Truist has decreased its “Buy” rating to a “Hold” for BLDR. Earlier on December 06, 2023, B. Riley Securities upgraded its rating. Their new recommendation was “a Buy” for BLDR stock which previously was a “a Neutral”.
Analyzing BLDR Stock Performance
During the last five days, there has been a drop of approximately -3.72%. Over the course of the year, Builders Firstsource Inc shares have jumped approximately 9.19%. Shares of the company reached a 52-week high of $214.70 on 03/21/24 and a 52-week low of $154.01 on 01/05/24. A 50-day SMA is recorded $194.91, while a 200-day SMA reached $154.54. Nevertheless, trading volume fell to 1.57 million shares from 1.65 million shares the previous day.
Support And Resistance Levels for Builders Firstsource Inc (BLDR)
According to the 24-hour chart, there is a support level at 179.90, which, if violated, would cause prices to drop to 177.53. In the upper region, resistance lies at 185.70. The next price resistance is at 189.13. RSI (Relative Strength Index) is 36.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -12.11, which suggests the price will decrease in the coming days. Percent R is at 84.62%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
