Recent trading patterns in the stock of The Goldman Sachs Group, Inc. (NYSE:GS) have investors on high alert. Performance is ultimately what matters to investors, and it’s worth taking a look at the data to get a sense of where GS might be headed in the future. In the most recent quarter, institutional ownership decreased by a net of 7.94 million shares, or 2.77%.This is a bearish sign and indicates that institutions are feeling more pessimistic about the outlook for GS overall.591 holders increased their positions, 510 decreased their positions, and 192 holders held their positions.

Among institutions that increased their positions, 105 were new positions. Among holders that decreased their positions, 110 sold out of the stock The Goldman Sachs Group, Inc.. Insider ownership during the latest quarter decreased by a net of 134383 shares, indicating that GS’s key executives are feeling more bearish about the stock than they did three months ago. This activity represents a continuation of a theme over the past twelve months. Insider ownership during the last year has decreased by a net of 1.8 million shares. 2.17% of insider trades in the last 12 months were buys, and 97.83% were sells.

Over the past year, the price of The Goldman Sachs Group, Inc. (GS) has increased 43.40% while the S&P 500 has increased 19.49%. During the past 20 days, GS has increased 6.99% while the broad market has increased 1.94%. GS ‘s 20-day moving average currently sits below its 100-day moving average. This is a bearish signal that suggests the stock price might have farther to fall. GS’s average trading volume during the past 20 days is higher than the average volume over the past 100 days, which could be an indication that investors are feeling more certain than usual about the direction of GS’s future price movements.

The Goldman Sachs Group, Inc. (NYSE:GS) has a 20-day RSI of 64.46%. According to this momentum indicator, a reading between 30 and 70 suggests the stock is not especially cheap or expensive, and not on the brink of a trend reversal. The MACD tells a different story. GS’s 9-day MACD currently sits below the 20-day MACD, indicating that GS’s upside momentum has decreased during the last three weeks. This suggests that the trend might soon reverse. GS’s average trading volatility during the past few weeks is -23.14% lower than the average volatility over the past 100 days. This means that the stock’s daily price swings have been less extreme in recent times compared to the past.

Analysts expect The Goldman Sachs Group, Inc. (GS) to generate earnings per share of $18.36 in 2017. This works out to an increase of 12.71% compared to last year’s earnings. For comparison’s sake, analysts expect the S&P 500 to grow earnings by an average of 12% in 2017. The average investment rating for GS on a scale of 1 to 5 (1 being a strong sell and 5 being a strong buy) is a 3.82 or a Hold. Three months ago, analysts assigned GS a 3.83 rating, which implies that analysts have become more pessimistic about the outlook for the stock over the next year.