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. Gap, Inc. shares valued at $485,880 were sold by Breitbard Mark on Mar 26 ’24. At $27.94 per share, Breitbard Mark sold 17,392 shares. The insider’s holdings dropped to 123,985 shares worth approximately $2.86 million following the completion of this transaction.
Also, O’Connell Katrina sold 9,818 shares, netting a total of over 274,270 in proceeds. Following the sale of shares at $27.94 each, the insider now holds 0 shares.
Before that, Gruber Julie had sold 9,414 shares from its account. In a trade valued at $262,990, the Chief Legal&Compliance Officer traded Gap, Inc. shares for $27.94 each. Upon closing the transaction, the insider’s holdings decreased to 9,414 shares, worth approximately $31956.56.
As published in a research note from Citigroup on May 07, 2024, Gap, Inc. [GPS] has been rated up from a Neutral to a Buy and the price target has been revised to $28 from $21. Analysts at Telsey Advisory Group resumed the stock at ‘”a Market perform”‘ outlook in a report released in early March. As of February 26, 2024, JP Morgan has increased its “an Underweight” rating to a “Neutral” for GPS. Earlier on November 17, 2023, Telsey Advisory Group resumed its rating. Their recommendation was “a Market perform” for GPS stock.
Analyzing GPS Stock Performance
During the last five days, there has been a surge of approximately 11.06%. Over the course of the year, Gap, Inc. shares have jumped approximately 10.43%. Shares of the company reached a 52-week high of $28.59 on 03/21/24 and a 52-week low of $18.34 on 01/18/24. A 50-day SMA is recorded $22.84, while a 200-day SMA reached $17.22. Nevertheless, trading volume fell to 4.95 million shares from 5.16 million shares the previous day.
Support And Resistance Levels for Gap, Inc. (GPS)
According to the 24-hour chart, there is a support level at 22.53, which, if violated, would cause prices to drop to 21.96. In the upper region, resistance lies at 23.38. The next price resistance is at 23.66. RSI (Relative Strength Index) is 57.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.31, which suggests the price will increase in the coming days. Percent R is at 1.43%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
