Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sprouts Farmers Market Inc shares valued at $657,464 were sold by Hurley Joseph L on Nov 04 ’24. At $132.66 per share, Hurley Joseph L sold 4,956 shares. The insider’s holdings dropped to 11,184 shares worth approximately $1.7 million following the completion of this transaction.
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Also, Fortunato Joe sold 11,500 shares, netting a total of over 1,527,680 in proceeds. Following the sale of shares at $132.84 each, the insider now holds 33,571 shares.
Before that, Sinclair Jack had sold 5,714 shares from its account. In a trade valued at $773,267, the Chief Executive Officer traded Sprouts Farmers Market Inc shares for $135.33 each. Upon closing the transaction, the insider’s holdings decreased to 5,714 shares, worth approximately $29.46 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 6.46%. Over the course of the year, Sprouts Farmers Market Inc shares have jumped approximately 215.88%. Shares of the company reached a 52-week high of $154.55 on 11/27/24 and a 52-week low of $47.82 on 01/02/24. A 50-day SMA is recorded $125.28, while a 200-day SMA reached $89.90. Nevertheless, trading volume fell to 1.49 million shares from 2.11 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 150.85, which, if violated, would cause prices to drop to 149.74. In the upper region, resistance lies at 153.82. The next price resistance is at 155.67. RSI (Relative Strength Index) is 78.91 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.31, which suggests the price will increase in the coming days. Percent R is at 17.12%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
