Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Gap, Inc. shares valued at $68,890 were sold by Gardner Tracy on Jul 01 ’24. At $23.48 per share, Gardner Tracy sold 2,934 shares. The insider’s holdings dropped to 51,901 shares worth approximately $1.18 million following the completion of this transaction.
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Also, Barbeito Horacio sold 198 shares, netting a total of over 4,923 in proceeds. Following the sale of shares at $24.81 each, the insider now holds 0 shares.
Before that, Gruber Julie had sold 74,252 shares from its account. In a trade valued at $2,227,560, the Chief Legal&Compliance Officer traded Gap, Inc. shares for $30.00 each. Upon closing the transaction, the insider’s holdings decreased to 74,252 shares, worth approximately $31430.64.
As published in a research note from BofA Securities on July 31, 2024, Gap, Inc. [GPS] has been rated up from an Underperform to a Neutral and the price target has been revised to $25 from $18.50. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid July. As of June 25, 2024, TD Cowen has increased its “Hold” rating to a “Buy” for GPS. Earlier on May 31, 2024, Telsey Advisory Group resumed its rating. Their recommendation was “a Market perform” for GPS stock.
Analyzing GPS Stock Performance
During the last five days, there has been a surge of approximately 10.03%. Over the course of the year, Gap, Inc. shares have jumped approximately 8.61%. 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 $23.63, while a 200-day SMA reached $21.36. Nevertheless, trading volume fell to 7.11 million shares from 6.51 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 22.09, which, if violated, would cause prices to drop to 21.47. In the upper region, resistance lies at 23.28. The next price resistance is at 23.86. RSI (Relative Strength Index) is 51.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.49, which suggests the price will decrease in the coming days. Percent R is at 34.51%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
