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Selling Buzz: Vertex Inc [VERX] 13(D) GROUP MEMBER ITEM SECOND IRR. TRUST FBO JAC sells 56,419 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Vertex Inc shares valued at $2,300,135 were sold by ITEM SECOND IRR. TRUST FBO JAC on Oct 14 ’24. At $40.77 per share, ITEM SECOND IRR. TRUST FBO JAC sold 56,419 shares. The insider’s holdings dropped to 932,706 shares worth approximately $47.88 million following the completion of this transaction.

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Also, ITEM SECOND IRR. TRUST FBO JAC sold 46,098 shares, netting a total of over 1,865,821 in proceeds. Following the sale of shares at $40.48 each, the insider now holds 989,125 shares.

Before that, ITEM SECOND IRR. TRUST FBO JAC had sold 32,629 shares from its account. In a trade valued at $1,296,318, the 13(D) GROUP MEMBER traded Vertex Inc shares for $39.73 each. Upon closing the transaction, the insider’s holdings decreased to 32,629 shares, worth approximately $53.14 million.

As published in a research note from Jefferies on November 04, 2024, Vertex Inc [VERX] has been rated up from a Hold to a Buy and the price target has been revised to $50 from $35. Analysts at Robert W. Baird started covering the stock with ‘”an Outperform”‘ outlook in a report released in late July. As of March 01, 2024, BofA Securities has increased its “an Underperform” rating to a “Neutral” for VERX.

Analyzing VERX Stock Performance

During the last five days, there has been a surge of approximately 23.66%. Over the course of the year, Vertex Inc shares have jumped approximately 90.53%. Shares of the company reached a 52-week high of $51.95 on 11/07/24 and a 52-week low of $23.31 on 01/12/24. A 50-day SMA is recorded $39.87, while a 200-day SMA reached $34.08. Nevertheless, trading volume fell to 1.94 million shares from 1.93 million shares the previous day.

Support And Resistance Levels for Vertex Inc (VERX)

According to the 24-hour chart, there is a support level at 49.68, which, if violated, would cause prices to drop to 48.04. In the upper region, resistance lies at 52.46. The next price resistance is at 53.60. RSI (Relative Strength Index) is 83.41 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.71, which suggests the price will increase in the coming days. Percent R is at 5.94%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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