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. American Tower Corp. shares valued at $2,333,902 were sold by Puech Olivier on Aug 02 ’24. At $233.27 per share, Puech Olivier sold 10,005 shares. The insider’s holdings dropped to 51,746 shares worth approximately $11.28 million following the completion of this transaction.
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Also, Vondran Steven O sold 21,537 shares, netting a total of over 4,953,510 in proceeds. Following the sale of shares at $230.00 each, the insider now holds 61,843 shares.
Before that, Goel Sanjay had sold 4,792 shares from its account. In a trade valued at $1,127,989, the EVP & President, Asia-Pacific traded American Tower Corp. shares for $235.39 each. Upon closing the transaction, the insider’s holdings decreased to 4,792 shares, worth approximately $5.15 million.
As published in their initiating research note from Goldman on July 01, 2024, American Tower Corp. [AMT] has been a Buy and the price target has been revised to $230. Analysts at Raymond James upgraded the stock from ‘”an Outperform”‘ to ‘”a Strong buy”‘ outlook in a report released in early May. As of April 08, 2024, Mizuho has initiated its “Neutral” rating for AMT. Earlier on December 14, 2023, HSBC Securities initiated its rating. Their recommendation was “a Buy” for AMT stock.
Analyzing AMT Stock Performance
During the last five days, there has been a drop of approximately -2.48%. Over the course of the year, American Tower Corp. shares have jumped approximately 1.01%. Shares of the company reached a 52-week high of $236.13 on 08/05/24 and a 52-week low of $170.46 on 04/30/24. A 50-day SMA is recorded $206.76, while a 200-day SMA reached $197.97. Nevertheless, trading volume fell to 1.83 million shares from 2.31 million shares the previous day.
Support And Resistance Levels for American Tower Corp. (AMT)
According to the 24-hour chart, there is a support level at 216.56, which, if violated, would cause prices to drop to 215.05. In the upper region, resistance lies at 220.51. The next price resistance is at 222.95. RSI (Relative Strength Index) is 51.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.76, which suggests the price will decrease in the coming days. Percent R is at 71.91%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
