JP Morgan Reiterates Sell Rating on WIT
JP Morgan maintains its sell rating on WIT, setting a $1.7 price target, a 22.55% downside from the current price.
Key Points
- JP Morgan reiterated its sell rating on WIT, with a price target of $1.7 as of June 24, 2026.
- JP Morgan's $1.70 price target implies 22.55% downside from Wipro Limited's ($WIT) current $2.19 share price.
- Shares of WIT traded at $2.29 on Wednesday, with notable insider selling activity in May.
- Institutional investors like Vanguard Capital opened new positions, while others like Morgan Stanley reduced their holdings.
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JP Morgan has reiterated its sell rating on WIT, with analyst Ankur Rudra setting a price target of $1.7. This update was made on June 24, 2026. Shares of WIT traded at $2.29 on Wednesday.
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Other Institutional Activity in WIT
BlackRock, Inc. slightly reduced its holdings by 1,113 shares, ending with 58,445,914 shares valued at about $123.9 million. Morgan Stanley cut its position by 2,045,656 shares, leaving it with 46,485,712 shares worth approximately $98.5 million, marking a 4.2% decrease. State Street Corp also reduced its stake by 1,053,939 shares, resulting in 22,807,073 shares valued at $48.4 million, a 4.4% decrease. Meanwhile, Vanguard Capital Management LLC opened a new position with 20,933,968 shares valued at $44.4 million. First Trust Advisors LP increased its holdings by 3,206,153 shares to 18,557,277 shares, representing a 20.9% increase, valued at $39.3 million.
Insider Buying and Selling at Wipro Limited
There has been significant insider selling at WIT. On May 19, 2026, Chief Financial Officer Aparna Chandrasekhar Iyer sold 45,000 shares at an average price of $2.00. Earlier, on May 14, 2026, CEO Srinivas Pallia sold 203,150 shares at $1.82 each. However, Pallia also made a notable purchase on May 13, 2026, buying 351,034 shares at just $0.03 each.
Analysts Set New Price Targets
On June 24, 2026, JP Morgan maintained its sell rating on WIT with a price target of $1.7. The consensus among analysts also leans towards a sell rating, reflecting a cautious outlook on the stock.
Bottom Line
JP Morgan's reiterated sell rating on WIT, accompanied by a $1.7 price target, suggests a cautious stance on the stock's future performance. As institutional investors adjust their positions and insider selling occurs, WIT remains a stock to watch. It's important to remember that these analyst updates and institutional filings provide a backward-looking view and may not reflect current conditions.
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