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SLM Corp. [SLM] Insider Selling: Time to sell?

SLM Corp.’s recent filing unveils that its SVP & Controller Boyles Jonathan unloaded Company’s shares for reported $1.95 million on Feb 29 ’24. In the deal valued at $20.72 per share,94,078 shares were sold. As a result of this transaction, Boyles Jonathan now holds 52,751 shares worth roughly $1.13 million.

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Then, VIEIRA DONNA F sold 12,308 shares, generating $249,484 in total proceeds. Upon selling the shares at $20.27, the EVP & Chief Commercial Officer now owns 126,500 shares.

Before that, Jafarieh Nicolas sold 7,500 shares. SLM Corp. shares valued at $120,864 were divested by the EVP -Legal, Govt, Comm Officer at a price of $16.12 per share. As a result of the transaction, Jafarieh Nicolas now holds 162,664 shares, worth roughly $3.5 million.

Citigroup upgraded its SLM Corp. [SLM] rating to a Buy from a a Neutral in a research note published on January 16, 2024; the price target was increased to $23 from $14. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who began to cover the stock in early January with a ‘”a Buy”‘ rating. JP Morgan also remained covering SLM and has decreased its forecast on January 04, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. Wells Fargo revised its rating on December 08, 2023. It rated SLM as “an Overweight” which previously was an “an Equal weight”.

Price Performance Review of SLM

On Monday, SLM Corp. [NASDAQ:SLM] saw its stock fall -1.33% to $21.49. Over the last five days, the stock has lost -0.88%. SLM Corp. shares have risen nearly 12.40% since the year began. Nevertheless, the stocks have risen 42.89% over the past one year. While a 52-week high of $22.74 was reached on 05/07/24, a 52-week low of $12.26 was recorded on 01/09/24. SMA at 50 days reached $21.24, while 200 days put it at $17.41. A total of 1.05 million shares were traded, compared to the trading of 0.57 million shares in the previous session.

Levels Of Support And Resistance For SLM Stock

The 24-hour chart illustrates a support level at 21.28, which if violated will result in even more drops to 21.08. On the upside, there is a resistance level at 21.87. A further resistance level may holdings at 22.25. The Relative Strength Index (RSI) on the 14-day chart is 50.70, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.67%. Stochastics %K at 41.67% indicates the stock is a holding.

The most recent change occurred on November 15, 2023 when Barclays began covering the stock and recommended ‘”an Overweight”‘ rating along with a $16 price target.

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