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. Sprouts Farmers Market Inc shares valued at $80,976 were purchased by Dustin Hamilton on Oct 11 ’24. At $112.00 per share, Dustin Hamilton acquired 723 shares.
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Also, Sinclair Jack sold 5,714 shares, netting a total of over 657,374 in proceeds. Following the sale of shares at $115.05 each, the insider now holds 205,290 shares.
Before that, Sinclair Jack had sold 5,714 shares from its account. In a trade valued at $642,288, the Chief Executive Officer traded Sprouts Farmers Market Inc shares for $112.41 each. Upon closing the transaction, the insider’s holdings decreased to 5,714 shares, worth approximately $23.83 million.
As published in a research note from Evercore ISI on September 16, 2024, Sprouts Farmers Market Inc [SFM] has been rated up from an In-line to an Outperform and the price target has been revised to $120 from $96. Analysts at RBC Capital Mkts started covering the stock with ‘”a Sector perform”‘ outlook in a report released in mid September. As of July 30, 2024, Wells Fargo has increased its “an Underweight” rating to a “an Equal weight” for SFM. Earlier on July 30, 2024, BMO Capital Markets upgraded its rating. Their new recommendation was “a Market perform” for SFM stock which previously was a “an Underperform”.
Analyzing SFM Stock Performance
During the last five days, there has been a surge of approximately 1.70%. Over the course of the year, Sprouts Farmers Market Inc shares have jumped approximately 134.73%. Shares of the company reached a 52-week high of $115.99 on 10/08/24 and a 52-week low of $47.82 on 01/02/24. A 50-day SMA is recorded $102.94, while a 200-day SMA reached $75.93. Nevertheless, trading volume fell to 1.27 million shares from 1.09 million shares the previous day.
Support And Resistance Levels for Sprouts Farmers Market Inc (SFM)
According to the 24-hour chart, there is a support level at 111.22, which, if violated, would cause prices to drop to 109.50. In the upper region, resistance lies at 114.03. The next price resistance is at 115.12. RSI (Relative Strength Index) is 66.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.88, which suggests the price will increase in the coming days. Percent R is at 32.08%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
