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. Colgate-Palmolive Co. shares valued at $240,228 were sold by HUNDMEJEAN MARTINA on Aug 23 ’24. At $103.86 per share, HUNDMEJEAN MARTINA sold 2,313 shares. The insider’s holdings dropped to 11,755 shares worth approximately $1.21 million following the completion of this transaction.
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Also, HUNDMEJEAN MARTINA purchased 2,313 shares, netting a total of over 240,228 in proceeds.
Before that, Tsourapas Panagiotis had sold 14,794 shares from its account. In a trade valued at $1,522,920, the Grp Pres, Eur& Developing Mkts traded Colgate-Palmolive Co. shares for $102.94 each. Upon closing the transaction, the insider’s holdings decreased to 14,794 shares, worth approximately $0.53 million.
As published in a research note from Wells Fargo on September 16, 2024, Colgate-Palmolive Co. [CL] has been rated down from an Equal weight to an Underweight and the price target has been revised to $100. Analysts at Deutsche Bank downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early September. As of July 26, 2024, HSBC Securities has decreased its “Buy” rating to a “Hold” for CL. Earlier on July 24, 2024, Jefferies downgraded its rating. Their new recommendation was “a Hold” for CL stock which previously was a “a Buy”.
Analyzing CL Stock Performance
During the last five days, there has been a drop of approximately -2.78%. Over the course of the year, Colgate-Palmolive Co. shares have jumped approximately 29.44%. Shares of the company reached a 52-week high of $109.30 on 09/05/24 and a 52-week low of $79.39 on 01/02/24. A 50-day SMA is recorded $102.35, while a 200-day SMA reached $91.20. Nevertheless, trading volume fell to 4.25 million shares from 4.03 million shares the previous day.
Support And Resistance Levels for Colgate-Palmolive Co. (CL)
According to the 24-hour chart, there is a support level at 102.04, which, if violated, would cause prices to drop to 100.91. In the upper region, resistance lies at 104.53. The next price resistance is at 105.89. RSI (Relative Strength Index) is 41.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.08, which suggests the price will decrease in the coming days. Percent R is at 86.93%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
