Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Pinnacle Financial Partners Inc. shares valued at $1,977,967 were sold by TURNER M TERRY on Mar 12 ’24. At $82.22 per share, TURNER M TERRY sold 24,057 shares. The insider’s holdings dropped to 294,790 shares worth approximately $24.46 million following the completion of this transaction.
Also, MCCABE ROBERT A JR sold 22,857 shares, netting a total of over 1,879,303 in proceeds. Following the sale of shares at $82.22 each, the insider now holds 268,311 shares.
Before that, CALLICUTT RICHARD D II had sold 11,030 shares from its account. In a trade valued at $906,887, the Chairman-Carolinas & Virginia traded Pinnacle Financial Partners Inc. shares for $82.22 each. Upon closing the transaction, the insider’s holdings decreased to 11,030 shares, worth approximately $8.07 million.
As published in a research note from Hovde Group on April 23, 2024, Pinnacle Financial Partners Inc. [PNFP] has been retained to an Outperform and the price target has been revised to $99. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early March. As of December 01, 2023, Citigroup has initiated its “Buy” rating for PNFP. Earlier on October 10, 2023, Jefferies upgraded its rating. Their new recommendation was “a Hold” for PNFP stock which previously was a “an Underperform”.
Analyzing PNFP Stock Performance
During the last five days, there has been a surge of approximately 5.91%. Over the course of the year, Pinnacle Financial Partners Inc. shares have dropped approximately -4.88%. Shares of the company reached a 52-week high of $92.33 on 01/30/24 and a 52-week low of $77.75 on 02/07/24. A 50-day SMA is recorded $82.20, while a 200-day SMA reached $75.57. Nevertheless, trading volume fell to 0.52 million shares from 1.11 million shares the previous day.
Support And Resistance Levels for Pinnacle Financial Partners Inc. (PNFP)
According to the 24-hour chart, there is a support level at 79.57, which, if violated, would cause prices to drop to 76.18. In the upper region, resistance lies at 84.79. The next price resistance is at 86.62. RSI (Relative Strength Index) is 55.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.14, which suggests the price will increase in the coming days. Percent R is at 26.15%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
