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 $1.87 million following the completion of this transaction.
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Also, MCCABE ROBERT A JR sold 115,249 shares, netting a total of over 9,340,032 in proceeds. Following the sale of shares at $81.04 each, the insider now holds 153,062 shares.
Before that, TURNER M TERRY had sold 72,000 shares from its account. In a trade valued at $5,830,153, the CEO traded Pinnacle Financial Partners Inc. shares for $80.97 each. Upon closing the transaction, the insider’s holdings decreased to 72,000 shares, worth approximately $20.71 million.
As published in a research note from Wells Fargo on October 01, 2024, Pinnacle Financial Partners Inc. [PNFP] has been rated down from an Overweight to an Equal weight and the price target has been revised to $100. Analysts at Hovde Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in late September. As of July 18, 2024, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for PNFP. Earlier on April 23, 2024, Hovde Group resumed its rating. Their recommendation was “an Outperform” for PNFP stock.
Analyzing PNFP Stock Performance
During the last five days, there has been a drop of approximately -3.65%. Over the course of the year, Pinnacle Financial Partners Inc. shares have jumped approximately 6.57%. Shares of the company reached a 52-week high of $100.76 on 09/19/24 and a 52-week low of $73.62 on 06/11/24. A 50-day SMA is recorded $94.03, while a 200-day SMA reached $85.52. Nevertheless, trading volume fell to 1.02 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 91.90, which, if violated, would cause prices to drop to 90.86. In the upper region, resistance lies at 93.89. The next price resistance is at 94.84. RSI (Relative Strength Index) is 43.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.48, which suggests the price will decrease in the coming days. Percent R is at 87.21%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
