Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Garmin Ltd shares valued at $366,277 were sold by Boessen Douglas G. on Dec 20 ’24. At $207.99 per share, Boessen Douglas G. sold 1,761 shares. The insider’s holdings dropped to 27,612 shares worth approximately $5.82 million following the completion of this transaction.
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Also, Boessen Douglas G. purchased 1,761 shares, netting a total of over 361,744 in proceeds.
Before that, PEMBLE CLIFTON A had sold 10,162 shares from its account. In a trade valued at $2,200,870, the President and CEO traded Garmin Ltd shares for $216.58 each. Upon closing the transaction, the insider’s holdings decreased to 10,162 shares, worth approximately $29.09 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 2.15%. Over the course of the year, Garmin Ltd shares have jumped approximately 63.89%. 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 $201.70, while a 200-day SMA reached $173.37. Nevertheless, trading volume fell to 0.84 million shares from 0.22 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 209.25, which, if violated, would cause prices to drop to 207.84. In the upper region, resistance lies at 211.93. The next price resistance is at 213.20. RSI (Relative Strength Index) is 52.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.98, which suggests the price will decrease in the coming days. Percent R is at 63.80%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
