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. Wells Fargo & Co shares valued at $3,822,000 were sold by Williams Ather III on Oct 16 ’24. At $63.70 per share, Williams Ather III sold 60,000 shares. The insider’s holdings dropped to 163,610 shares worth approximately $11.95 million following the completion of this transaction.
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Also, Williams Ather III purchased 60,000 shares, netting a total of over 3,822,000 in proceeds.
Before that, Van Beurden Saul had sold 35,000 shares from its account. In a trade valued at $2,169,650, the Sr. Executive Vice President traded Wells Fargo & Co shares for $61.99 each. Upon closing the transaction, the insider’s holdings decreased to 35,000 shares, worth approximately $9.26 million.
As published in a research note from Wolfe Research on October 08, 2024, Wells Fargo & Co [WFC] has been rated up from a Peer perform to an Outperform and the price target has been revised to $65. Analysts at Evercore ISI resumed the stock at ‘”an Outperform”‘ outlook in a report released in early September. As of September 03, 2024, Deutsche Bank has increased its “Hold” rating to a “Buy” for WFC. Earlier on April 09, 2024, Compass Point downgraded its rating. Their new recommendation was “a Neutral” for WFC stock which previously was a “a Buy”.
Analyzing WFC Stock Performance
During the last five days, there has been a drop of approximately -5.55%. Over the course of the year, Wells Fargo & Co shares have jumped approximately 48.44%. Shares of the company reached a 52-week high of $78.13 on 11/26/24 and a 52-week low of $46.12 on 01/18/24. A 50-day SMA is recorded $66.20, while a 200-day SMA reached $59.74. Nevertheless, trading volume fell to 13.91 million shares from 0.21 million shares the previous day.
Support And Resistance Levels for Wells Fargo & Co (WFC)
According to the 24-hour chart, there is a support level at 72.43, which, if violated, would cause prices to drop to 71.80. In the upper region, resistance lies at 73.97. The next price resistance is at 74.88. RSI (Relative Strength Index) is 55.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.78, which suggests the price will decrease in the coming days. Percent R is at 88.87%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
