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. Costco Wholesale Corp shares valued at $2,844,778 were sold by Adamo Claudine on Sep 30 ’24. At $888.99 per share, Adamo Claudine sold 3,200 shares. The insider’s holdings dropped to 8,630 shares worth approximately $7.58 million following the completion of this transaction.
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Also, Callans Patrick J sold 2,500 shares, netting a total of over 2,234,850 in proceeds. Following the sale of shares at $893.94 each, the insider now holds 66,414 shares.
Before that, Frates Caton had sold 1,700 shares from its account. In a trade valued at $1,501,695, the Executive Vice President traded Costco Wholesale Corp shares for $883.35 each. Upon closing the transaction, the insider’s holdings decreased to 1,700 shares, worth approximately $8.51 million.
As published in a research note from Telsey Advisory Group on September 27, 2024, Costco Wholesale Corp [COST] has been retained to an Outperform and the price target has been revised to $1000. Analysts at Truist downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late September. As of September 10, 2024, Redburn Atlantic has decreased its “Buy” rating to a “Neutral” for COST. Earlier on September 09, 2024, Morgan Stanley resumed its rating. Their recommendation was “an Overweight” for COST stock.
Analyzing COST Stock Performance
During the last five days, there has been a drop of approximately -3.29%. Over the course of the year, Costco Wholesale Corp shares have jumped approximately 33.09%. Shares of the company reached a 52-week high of $923.83 on 09/13/24 and a 52-week low of $640.51 on 01/04/24. A 50-day SMA is recorded $871.68, while a 200-day SMA reached $783.45. Nevertheless, trading volume fell to 1.29 million shares from 1.84 million shares the previous day.
Support And Resistance Levels for Costco Wholesale Corp (COST)
According to the 24-hour chart, there is a support level at 870.05, which, if violated, would cause prices to drop to 861.57. In the upper region, resistance lies at 884.12. The next price resistance is at 889.71. RSI (Relative Strength Index) is 44.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -17.61, which suggests the price will decrease in the coming days. Percent R is at 79.94%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
