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. Pinnacle Financial Partners Inc. shares valued at $124,500 were sold by BURNS GREGORY L on May 09 ’24. At $83.00 per share, BURNS GREGORY L sold 1,500 shares. The insider’s holdings dropped to 20,091 shares worth approximately $1.56 million following the completion of this transaction.
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Also, CALLICUTT RICHARD D II sold 13,923 shares, netting a total of over 1,134,752 in proceeds. Following the sale of shares at $81.50 each, the insider now holds 83,303 shares.
Before that, MCCABE ROBERT A JR had sold 115,249 shares from its account. In a trade valued at $9,340,032, the CHAIRMAN traded Pinnacle Financial Partners Inc. shares for $81.04 each. Upon closing the transaction, the insider’s holdings decreased to 115,249 shares, worth approximately $11.88 million.
As published in a research note from Hovde Group on April 23, 2024, Pinnacle Financial Partners Inc. [PNFP] has been retained to an Outperform and the price target has been revised to $99. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early March. As of December 01, 2023, Citigroup has initiated its “Buy” rating for PNFP. Earlier on October 10, 2023, Jefferies upgraded its rating. Their new recommendation was “a Hold” for PNFP stock which previously was a “an Underperform”.
Analyzing PNFP Stock Performance
During the last five days, there has been a surge of approximately 1.15%. Over the course of the year, Pinnacle Financial Partners Inc. shares have dropped approximately -11.04%. Shares of the company reached a 52-week high of $92.33 on 01/30/24 and a 52-week low of $73.62 on 06/11/24. A 50-day SMA is recorded $79.40, while a 200-day SMA reached $78.08. Nevertheless, trading volume fell to 0.25 million shares from 0.31 million shares the previous day.
Support And Resistance Levels for Pinnacle Financial Partners Inc. (PNFP)
According to the 24-hour chart, there is a support level at 77.44, which, if violated, would cause prices to drop to 76.69. In the upper region, resistance lies at 79.67. The next price resistance is at 81.15. RSI (Relative Strength Index) is 48.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.90, which suggests the price will increase in the coming days. Percent R is at 45.26%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
