Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Nordstrom Inc. shares valued at $487,825 were sold by Bariquit Teri on Jun 09. At $19.51 per share, Bariquit Teri sold 25,000 shares. The insider’s holdings dropped to 56,853 shares worth approximately $1.1 million following the completion of this transaction.
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Also, Worzel Ken sold 28,645 shares, netting a total of over 601,528 in proceeds. Following the sale of shares at $21.00 each, the insider now holds 125,026 shares.
Before that, Worzel Ken had sold 1,540 shares from its account. In a trade valued at $30,922, the Chief Customer Officer traded Nordstrom Inc. shares for $20.08 each. Upon closing the transaction, the insider’s holdings decreased to 1,540 shares, worth approximately $2.49 million.
As published in a research note from Argus on March 08, 2023, Nordstrom Inc. [JWN] has been rated up from a Hold to a Buy and the price target has been revised to $23. This represents a 15.78% premium over Thursday’s closing price.
Analyzing JWN Stock Performance
On Thursday, Nordstrom Inc. [NYSE: JWN] plunged -0.10% to $19.37. The stock’s lowest price that day was $19.115, but it reached a high of $19.61 in the same session. During the last five days, there has been a drop of approximately -0.05%. Over the course of the year, Nordstrom Inc. shares have jumped approximately 20.01%. Shares of the company reached a 52-week high of $27.15 on 02/03/23 and a 52-week low of $14.02 on 05/04/23. A 50-day SMA is recorded $16.38, while a 200-day SMA reached $18.19. Nevertheless, trading volume fell to 3.14 million shares from 4.59 million shares the previous day.
Support And Resistance Levels for Nordstrom Inc. (JWN)
According to the 24-hour chart, there is a support level at 19.12, which, if violated, would cause prices to drop to 18.87. In the upper region, resistance lies at 19.62. The next price resistance is at 19.86. RSI (Relative Strength Index) is 64.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.37, which suggests the price will increase in the coming days. Percent R is at 23.64%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Nordstrom Inc. subject to short interest?
Stocks of Nordstrom Inc. saw a sharp rise in short interest on May 30, 2023 jumping by 1.14 million shares to 22.77 million. Data from Yahoo Finance shows that the short interest on Apr 27, 2023 was 21.63 million shares. A jump of 5.01% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.09 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.09.
Which companies own the most shares of Nordstrom Inc. (JWN)?
According to The Vanguard Group, Inc. filings, the company currently owns 10,007,401 shares, which is about 6.25% of the total JWN shares outstanding. The investor’s shares have appreciated by 746,965 from its previous 13-F filing of 9260436.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $141,376,011. SSgA Funds Management, Inc. acquire a 9.82% interest valued at $78.59 million while Cooper Creek Partners Management 3,151,908 stake. In its current portfolio, Arrowstreet Capital LP holds 1,981,451 shares valued at $30.63 million.
In terms of Nordstrom Inc. share price expectations, FactSet research, analysts set an average price target of $18.07 in the next 12 months, down nearly -7.17% from the previous closing price of $19.39. Analysts anticipate Nordstrom Inc. stock to reach $23.00 by 2023, with the lowest price target being $12.00. In spite of this, 19 analysts ranked Nordstrom Inc. stock as a Hold at the end of 2023.