Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Public Storage shares valued at $135,978 were sold by Vitan Nathaniel A. on Aug 23 ’24. At $339.95 per share, Vitan Nathaniel A. sold 400 shares. The insider’s holdings dropped to 2,814 shares worth approximately $0.92 million following the completion of this transaction.
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Also, Vitan Nathaniel A. purchased 400 shares, netting a total of over 135,978 in proceeds.
Before that, Vitan Nathaniel A. had sold 400 shares from its account. In a trade valued at $109,714, the Chief Legal Officer traded Public Storage shares for $274.29 each. Upon closing the transaction, the insider’s holdings decreased to 400 shares, worth approximately $1.05 million.
As published in their initiating research note from RBC Capital Mkts on September 10, 2024, Public Storage [PSA] has been a Sector perform and the price target has been revised to $358. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early August. As of August 01, 2024, Truist has decreased its “Buy” rating to a “Hold” for PSA. Earlier on April 05, 2024, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for PSA stock which previously was a “an Equal weight”.
Analyzing PSA Stock Performance
During the last five days, there has been a drop of approximately -3.13%. Over the course of the year, Public Storage shares have jumped approximately 6.66%. Shares of the company reached a 52-week high of $369.99 on 10/01/24 and a 52-week low of $256.31 on 05/01/24. A 50-day SMA is recorded $347.14, while a 200-day SMA reached $301.96. Nevertheless, trading volume fell to 1.53 million shares from 0.63 million shares the previous day.
Support And Resistance Levels for Public Storage (PSA)
According to the 24-hour chart, there is a support level at 315.88, which, if violated, would cause prices to drop to 306.45. In the upper region, resistance lies at 335.97. The next price resistance is at 346.63. RSI (Relative Strength Index) is 39.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.59, which suggests the price will decrease in the coming days. Percent R is at 72.96%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
