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. Sprouts Farmers Market Inc shares valued at $1,978,592 were sold by Konat Nicholas on Mar 22 ’24. At $62.13 per share, Konat Nicholas sold 31,846 shares. The insider’s holdings dropped to 82,495 shares worth approximately $5.41 million following the completion of this transaction.
Also, Zalatoris Timmi sold 5,353 shares, netting a total of over 329,852 in proceeds. Following the sale of shares at $61.62 each, the insider now holds 10,895 shares.
Before that, Sinclair Jack had sold 10,564 shares from its account. In a trade valued at $671,439, the Chief Executive Officer traded Sprouts Farmers Market Inc shares for $63.56 each. Upon closing the transaction, the insider’s holdings decreased to 10,564 shares, worth approximately $15.72 million.
As published in a research note from BofA Securities on February 27, 2024, Sprouts Farmers Market Inc [SFM] has been rated up from an Underperform to a Buy and the price target has been revised to $70 from $30. Analysts at Evercore ISI upgraded the stock from ‘”an Underperform”‘ to ‘”an In-line”‘ outlook in a report released in early January. As of December 12, 2023, Goldman has increased its “Sell” rating to a “Buy” for SFM. Earlier on July 25, 2023, Deutsche Bank downgraded its rating. Their new recommendation was “a Hold” for SFM stock which previously was a “a Buy”.
Analyzing SFM Stock Performance
During the last five days, there has been a surge of approximately 5.08%. Over the course of the year, Sprouts Farmers Market Inc shares have jumped approximately 36.33%. Shares of the company reached a 52-week high of $66.18 on 04/22/24 and a 52-week low of $47.82 on 01/02/24. A 50-day SMA is recorded $61.67, while a 200-day SMA reached $47.93. Nevertheless, trading volume fell to 1.54 million shares from 1.09 million shares the previous day.
Support And Resistance Levels for Sprouts Farmers Market Inc (SFM)
According to the 24-hour chart, there is a support level at 64.92, which, if violated, would cause prices to drop to 64.26. In the upper region, resistance lies at 66.02. The next price resistance is at 66.46. RSI (Relative Strength Index) is 65.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.74, which suggests the price will increase in the coming days. Percent R is at 12.91%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
