Why is GS stock down today?

GS is up 0.3% over five trading days, closing at $928.0 on Nov. 4, 2026. When a stock drops like this, the first question is whether the problem lies with the company or the whole group it trades with.

To answer that, we compare GS with its closest peers. We check the calendar for earnings and Fed dates. We also review Goldman Sachs Group Inc's latest SEC filings and insider trades.

The chart below tracks GS's daily closing price from May 11, 2026 to Nov. 4, 2026. Over that stretch it is down 0.9%, from $936.15 to $928.00, with a high of $1,146.35 on July 15, 2026 and a low of $875.68 on Oct. 23, 2026. Each red circle marks a week in which company insiders sold shares on the open market (6 weeks in this period; bigger circles mean more money). There are no green diamonds: no insider bought on the open market in this window.

What could be behind the GS move

Company filings in the last weeks include three items. A 424B3 filed on Nov. 3, 2026 covers a stock offering (common) (prospectus). A 424B3 filed on Nov. 3, 2026 covers a stock offering (common) (prospectus). A 424B3 filed on Oct. 5, 2026 covers a stock offering (common) (prospectus).

The broader market shows an uptrend under stress. The VIX volatility index stands at 16.61. The Federal Reserve's next rate decision is on Dec. 9, 2026, 34 days away. Market pricing puts the odds at 20% for a hold, 79% for a hike and 2% for a cut.

Also worth knowing about GS

Live GS data, updated every 30 minutes: GS insider trades, ownership and filings →

What would change the picture for GS

These are the specific events and levels to watch. None of them is a prediction.

• An open-market purchase by an insider at Goldman Sachs Group Inc has not happened in 90 days. Form 4 filings would show one within two business days of the trade.
• Analyst ratings: the average score moved from 3.62 to 3.59 over three months. The scale runs from 5 for strong buy to 1 for strong sell. A run of downgrades after earnings usually shows up here first.
• Price levels: a close above $1146.35 would mark a new 52-week high. That is 23.5% above the latest close of $928.0. A close below $758.86 would mark a new 52-week low. That is 18.2% below it.
• Growth: revenue rose 18.7% year over year in the quarter ending Sep 2026. The trend is accelerating. At a P/E of 13.3, a slowdown would matter more than at a lower multiple.
• New shares: dilution risk is moderate now. A new shelf registration (S-3) or prospectus supplement (424B) for an offering would raise it.

How GS compares with its peers

Over the past month GS ranks 3 of 6 in this group at +3.4%. The best was WFC at +7.3%. The weakest was BAC at -4.5%.

GS's P/E of 13.3 is below the peers' median of 14.8. Investors pay less for each dollar of its profit.

GS history: what happened after similar moves

Since 2023, GS fell 10% or more in a month 5 times (separate episodes, not counting the current one). Three months later it was higher in 4 of 4 cases; the median change was +27.6%.

Past moves don't predict the next one; they show how volatile the stock has been.

Questions people also ask

What is GS's 52-week high and low?

Over the past year GS closed as high as $1146.35 and as low as $758.86. At $928.0 on Nov. 4, 2026, it is down 19.0% from the high. It is also 22.3% above the low. More →

Do analysts think GS is a buy?

15 of the 32 analysts covering Goldman Sachs Group Inc rate it a buy or strong buy. The consensus is Hold. Ratings describe analysts' views, not a guarantee, and they change after earnings. More →

Is Goldman Sachs Group Inc issuing new shares?

Dilution risk reads moderate (25/100). The share count fell 3.8% in a year. This is based on 1 offering-related filing(s) in 12 months.

Is Goldman Sachs Group Inc profitable?

Yes. Goldman Sachs Group Inc had $69.7 billion of revenue over the last 12 months. Its net margin is 31.8% and its P/E is 13.3. More →

Who is the largest shareholder of GS?

Among investment managers that file Form 13F, BlackRock Inc. reported the largest GS position at $24.2 billion. 3162 institutions reported holding GS for Q2 2026. More →

Are GS insiders buying or selling?

Insiders sold $12 million of GS on the open market in 90 days and bought none. Sales are often routine for taxes, diversification or pre-planned plans. Purchases with their own money are the stronger signal.

Dates to watch for GS

Insider trades can come any day: they must be filed on Form 4 within two business days.

Key terms on this page

P/E ratio

Price divided by the last 12 months of earnings per share. A P/E of 20 means investors pay $20 for each $1 of yearly profit. It is only defined when the company is profitable.

Form 4

The SEC form a company's officers, directors and 10% owners must file within two business days of buying or selling its stock.

Open-market trade

A purchase or sale on the exchange at the market price, paid with the insider's own money (code P or S on Form 4), as opposed to option exercises, grants or gifts.

Form 13F

A quarterly SEC report listing the U.S. stock holdings of every investment manager with more than $100 million. It is due 45 days after each quarter ends, so it shows positions with a delay.

Dilution

When a company issues new shares, each existing share owns a smaller piece of the company. Common sources: stock offerings, convertible debt and large stock-based pay.

52-week high / low

The highest and lowest daily closing price over the past year (about 252 trading days).

Analyst consensus

The average of Wall Street analysts' ratings (strong buy to strong sell). Analysts skew positive, so a hold is often read as a cautious view.

Where these numbers come from

Every number on this page is computed from the data when the page is refreshed (usually daily); nothing is typed in by hand. This is information, not investment advice.

• Price: daily closing prices run through Nov. 4, 2026. Changes use 5, 21 and 63 trading days. The 52-week range uses the last 252 closes.
• Insider trades: SEC Form 4 filings for the last 90 days, counting only open-market purchases (code P) and sales (code S); option exercises, grants, gifts and filings with data errors are left out.
• Analyst ratings: counts of current ratings from 32 analysts. These are compared with three months ago.
• Earnings dates and estimates come from a market-data calendar. The data covers reported vs expected EPS for the last 4 quarters.
• Valuation and growth data come from the company's SEC filings. The data includes revenue, earnings, margins and share counts from XBRL data for the latest quarter, Sep 2026. P/E and price/sales use the latest close.
• Fund ownership: SEC Form 13F filings cover Q2 2026.
• Dilution: share-count changes and offering-related SEC filings are tracked over two years. The filings include shelf registrations, prospectus supplements and convertible notes. The score runs from 0-100.
• History: 21-trading-day moves span about three years of daily closes. Each episode is counted once.