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A company insider recently sold 24,747 shares of Pentair plc [PNR]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pentair plc shares valued at $2,089,798 were sold by Pedretti Jerome O on May 22 ’24. At $84.45 per share, Pedretti Jerome O sold 24,747 shares. The insider’s holdings dropped to 38,538 shares worth approximately $3.06 million following the completion of this transaction.

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Also, Rolchigo Philip M. sold 2,427 shares, netting a total of over 174,744 in proceeds. Following the sale of shares at $72.00 each, the insider now holds 18,535 shares.

Before that, JONES DAVID A /WI had sold 2,260 shares from its account. In a trade valued at $153,341, the Director traded Pentair plc shares for $67.85 each. Upon closing the transaction, the insider’s holdings decreased to 2,260 shares, worth approximately $1.83 million.

As published in a research note from Northcoast on April 15, 2024, Pentair plc [PNR] has been rated up from a Neutral to a Buy and the price target has been revised to $100. Analysts at Goldman downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late March. As of March 12, 2024, Exane BNP Paribas has initiated its “Neutral” rating for PNR. Earlier on January 12, 2024, RBC Capital Mkts upgraded its rating. Their new recommendation was “an Outperform” for PNR stock which previously was a “a Sector perform”.

Analyzing PNR Stock Performance

During the last five days, there has been a drop of approximately -0.84%. Over the course of the year, Pentair plc shares have jumped approximately 9.09%. Shares of the company reached a 52-week high of $85.84 on 05/15/24 and a 52-week low of $68.08 on 01/04/24. A 50-day SMA is recorded $80.60, while a 200-day SMA reached $72.85. Nevertheless, trading volume fell to 2.14 million shares from 2.0 million shares the previous day.

Support And Resistance Levels for Pentair plc (PNR)

According to the 24-hour chart, there is a support level at 78.77, which, if violated, would cause prices to drop to 78.21. In the upper region, resistance lies at 80.13. The next price resistance is at 80.93. RSI (Relative Strength Index) is 47.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.03, which suggests the price will decrease in the coming days. Percent R is at 41.36%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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