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. Coca-Cola Co shares valued at $2,327,346 were sold by QUAN NANCY on May 07 ’24. At $62.28 per share, QUAN NANCY sold 37,368 shares. The insider’s holdings dropped to 223,330 shares worth approximately $14.04 million following the completion of this transaction.
Also, RANDAZZA MARK sold 20,627 shares, netting a total of over 1,284,767 in proceeds. Following the sale of shares at $62.29 each, the insider now holds 54,965 shares.
Before that, Perez Beatriz R had sold 57,298 shares from its account. In a trade valued at $3,551,978, the Executive Vice President traded Coca-Cola Co shares for $61.99 each. Upon closing the transaction, the insider’s holdings decreased to 57,298 shares, worth approximately $10.51 million.
As published in a research note from Citigroup on January 17, 2024, Coca-Cola Co [KO] has been retained to a Buy and the price target has been revised to $68. Analysts at Jefferies started covering the stock with ‘”a Hold”‘ outlook in a report released in mid November. As of July 14, 2023, JP Morgan has reiterated its “an Overweight” rating for KO. Earlier on February 17, 2023, Citigroup initiated its rating. Their recommendation was “a Buy” for KO stock.
Analyzing KO Stock Performance
During the last five days, there has been a surge of approximately 1.44%. Over the course of the year, Coca-Cola Co shares have jumped approximately 6.70%. Shares of the company reached a 52-week high of $63.15 on 05/09/24 and a 52-week low of $57.93 on 04/16/24. A 50-day SMA is recorded $60.40, while a 200-day SMA reached $59.01. Nevertheless, trading volume fell to 8.92 million shares from 10.48 million shares the previous day.
Support And Resistance Levels for Coca-Cola Co (KO)
According to the 24-hour chart, there is a support level at 62.70, which, if violated, would cause prices to drop to 62.53. In the upper region, resistance lies at 63.10. The next price resistance is at 63.33. RSI (Relative Strength Index) is 72.97 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.87, which suggests the price will decrease in the coming days. Percent R is at 7.86%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
