Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Garmin Ltd shares valued at $2,192,282 were sold by BURRELL JONATHAN on Mar 15 ’24. At $146.15 per share, BURRELL JONATHAN sold 15,000 shares. The insider’s holdings dropped to 623,834 shares worth approximately $89.23 million following the completion of this transaction.
Also, BURRELL JONATHAN sold 15,000 shares, netting a total of over 2,212,284 in proceeds. Following the sale of shares at $147.49 each, the insider now holds 638,834 shares.
Before that, BURRELL JONATHAN had sold 15,000 shares from its account. In a trade valued at $2,233,340, the Director traded Garmin Ltd shares for $148.89 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $93.52 million.
As published in a research note from JP Morgan on January 08, 2024, Garmin Ltd [GRMN] has been rated down from an Overweight to a Neutral and the price target has been revised to $135. As of April 19, 2023, KeyBanc Capital Markets has initiated its “Sector weight” rating for GRMN. Earlier on November 09, 2022, Barclays initiated its rating. Their recommendation was “an Equal weight” for GRMN stock.
Analyzing GRMN Stock Performance
During the last five days, there has been a surge of approximately 1.64%. Over the course of the year, Garmin Ltd shares have jumped approximately 11.27%. Shares of the company reached a 52-week high of $149.54 on 03/28/24 and a 52-week low of $119.15 on 02/01/24. A 50-day SMA is recorded $141.59, while a 200-day SMA reached $120.37. Nevertheless, trading volume fell to 0.53 million shares from 0.61 million shares the previous day.
Support And Resistance Levels for Garmin Ltd (GRMN)
According to the 24-hour chart, there is a support level at 141.23, which, if violated, would cause prices to drop to 139.43. In the upper region, resistance lies at 144.06. The next price resistance is at 145.09. RSI (Relative Strength Index) is 50.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.58, which suggests the price will decrease in the coming days. Percent R is at 60.81%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
