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. Garmin Ltd shares valued at $123,328 were sold by Biddlecombe Sean on Nov 07 ’24. At $210.10 per share, Biddlecombe Sean sold 587 shares. The insider’s holdings dropped to 6,147 shares worth approximately $1.33 million following the completion of this transaction.
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Also, Sean Biddlecombe purchased 587 shares, netting a total of over 123,328 in proceeds.
Before that, Straub Philip had sold 2,750 shares from its account. In a trade valued at $499,023, the EVP, Man. Director – Aviation traded Garmin Ltd shares for $181.46 each. Upon closing the transaction, the insider’s holdings decreased to 2,750 shares, worth approximately $19.12 million.
As published in a research note from Morgan Stanley on October 07, 2024, Garmin Ltd [GRMN] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $138 from $155. Analysts at Barclays downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid September. As of May 22, 2024, BofA Securities has decreased its “Neutral” rating to a “an Underperform” for GRMN. Earlier on January 08, 2024, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for GRMN stock which previously was a “an Overweight”.
Analyzing GRMN Stock Performance
During the last five days, there has been a surge of approximately 1.37%. Over the course of the year, Garmin Ltd shares have jumped approximately 67.86%. Shares of the company reached a 52-week high of $216.44 on 11/25/24 and a 52-week low of $119.15 on 02/01/24. A 50-day SMA is recorded $188.47, while a 200-day SMA reached $167.77. Nevertheless, trading volume fell to 0.71 million shares from 8741.0 shares the previous day.
Support And Resistance Levels for Garmin Ltd (GRMN)
According to the 24-hour chart, there is a support level at 212.88, which, if violated, would cause prices to drop to 210.00. In the upper region, resistance lies at 217.32. The next price resistance is at 218.88. RSI (Relative Strength Index) is 69.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.81, which suggests the price will increase in the coming days. Percent R is at 5.49%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
