Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Garmin Ltd shares valued at $2,200,870 were sold by PEMBLE CLIFTON A on Dec 16 ’24. At $216.58 per share, PEMBLE CLIFTON A sold 10,162 shares. The insider’s holdings dropped to 138,061 shares worth approximately $28.47 million following the completion of this transaction.
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Also, Boessen Douglas G. sold 894 shares, netting a total of over 193,655 in proceeds. Following the sale of shares at $216.62 each, the insider now holds 29,373 shares.
Before that, PEMBLE CLIFTON A had added 10,162 shares to its account. In a trade valued at $2,187,878, the Officer bought Garmin Ltd shares for $215.30 each.
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 drop of approximately -6.59%. Over the course of the year, Garmin Ltd shares have jumped approximately 60.44%. Shares of the company reached a 52-week high of $222.97 on 12/11/24 and a 52-week low of $119.15 on 02/01/24. A 50-day SMA is recorded $197.43, while a 200-day SMA reached $171.74. Nevertheless, trading volume fell to 0.88 million shares from 0.86 million shares the previous day.
Support And Resistance Levels for Garmin Ltd (GRMN)
According to the 24-hour chart, there is a support level at 204.62, which, if violated, would cause prices to drop to 203.02. In the upper region, resistance lies at 209.36. The next price resistance is at 212.50. RSI (Relative Strength Index) is 43.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.55, which suggests the price will decrease in the coming days. Percent R is at 99.52%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
