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A company insider recently sold 57,298 shares of Coca-Cola Co [KO]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Coca-Cola Co shares valued at $3,614,238 were sold by Braun Henrique on May 15 ’24. At $63.08 per share, Braun Henrique sold 57,298 shares. The insider’s holdings dropped to 52,466 shares worth approximately $3.37 million following the completion of this transaction.

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Also, Douglas Monica Howard sold 8,874 shares, netting a total of over 561,801 in proceeds. Following the sale of shares at $63.31 each, the insider now holds 33,638 shares.

Before that, MURPHY JOHN had sold 57,298 shares from its account. In a trade valued at $3,604,680, the President and CFO traded Coca-Cola Co shares for $62.91 each. Upon closing the transaction, the insider’s holdings decreased to 57,298 shares, worth approximately $8.34 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 3.52%. Over the course of the year, Coca-Cola Co shares have jumped approximately 8.86%. Shares of the company reached a 52-week high of $64.36 on 06/06/24 and a 52-week low of $57.93 on 04/16/24. A 50-day SMA is recorded $61.46, while a 200-day SMA reached $59.16. Nevertheless, trading volume fell to 8.6 million shares from 9.63 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 63.87, which, if violated, would cause prices to drop to 63.60. In the upper region, resistance lies at 64.39. The next price resistance is at 64.64. RSI (Relative Strength Index) is 68.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.22, which suggests the price will increase in the coming days. Percent R is at 6.38%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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