Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sprouts Farmers Market Inc shares valued at $2,298,318 were sold by Konat Nicholas on May 08 ’24. At $74.14 per share, Konat Nicholas sold 31,000 shares. The insider’s holdings dropped to 51,495 shares worth approximately $3.84 million following the completion of this transaction.
Also, Lombardi Brandon F. sold 5,174 shares, netting a total of over 387,907 in proceeds. Following the sale of shares at $74.97 each, the insider now holds 6,052 shares.
Before that, Coffin Kim had sold 1,322 shares from its account. In a trade valued at $99,212, the SVP, Chief Forager traded Sprouts Farmers Market Inc shares for $75.05 each. Upon closing the transaction, the insider’s holdings decreased to 1,322 shares, worth approximately $0.41 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 16.13%. Over the course of the year, Sprouts Farmers Market Inc shares have jumped approximately 55.19%. Shares of the company reached a 52-week high of $75.95 on 05/07/24 and a 52-week low of $47.82 on 01/02/24. A 50-day SMA is recorded $64.71, while a 200-day SMA reached $49.50. Nevertheless, trading volume fell to 1.12 million shares from 1.68 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 73.91, which, if violated, would cause prices to drop to 73.16. In the upper region, resistance lies at 75.17. The next price resistance is at 75.67. RSI (Relative Strength Index) is 75.62 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.06, which suggests the price will increase in the coming days. Percent R is at 10.09%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
