Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Gap, Inc. shares valued at $2,227,560 were sold by Gruber Julie on Jun 03 ’24. At $30.00 per share, Gruber Julie sold 74,252 shares. The insider’s holdings dropped to 1,384 shares worth approximately $35651.840000000004 following the completion of this transaction.
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Also, O’Connell Katrina sold 20,000 shares, netting a total of over 580,174 in proceeds. Following the sale of shares at $29.01 each, the insider now holds 0 shares.
Before that, Breitbard Mark had sold 17,392 shares from its account. In a trade valued at $485,880, the President & CEO, Gap Brand traded Gap, Inc. shares for $27.94 each. Upon closing the transaction, the insider’s holdings decreased to 17,392 shares, worth approximately $3.19 million.
As published in a research note from Telsey Advisory Group on May 31, 2024, Gap, Inc. [GPS] has been retained to a Market perform and the price target has been revised to $29. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early May. As of March 08, 2024, Telsey Advisory Group has reiterated its “Market perform” rating for GPS. Earlier on February 26, 2024, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for GPS stock which previously was a “an Underweight”.
Analyzing GPS Stock Performance
During the last five days, there has been a surge of approximately 14.39%. Over the course of the year, Gap, Inc. shares have jumped approximately 23.19%. Shares of the company reached a 52-week high of $30.75 on 06/03/24 and a 52-week low of $18.34 on 01/18/24. A 50-day SMA is recorded $22.82, while a 200-day SMA reached $18.43. Nevertheless, trading volume fell to 7.53 million shares from 14.81 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 25.36, which, if violated, would cause prices to drop to 24.95. In the upper region, resistance lies at 26.56. The next price resistance is at 27.36. RSI (Relative Strength Index) is 59.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.95, which suggests the price will increase in the coming days. Percent R is at 47.57%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
