Saturday, June 25, 2022

Insider Selling: GARNREITER MICHAEL, Knight-Swift Transportation Holdings Inc. [KNX] Director divested 2,000 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Knight-Swift Transportation Holdings Inc. shares valued at $108,741 were sold by GARNREITER MICHAEL on Feb 25. At $54.37 per share, GARNREITER MICHAEL sold 2,000 shares. The insider’s holdings dropped to 12,005 shares worth approximately $0.54 million following the completion of this transaction.

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Also, Ohlman Dustin sold 2,022 shares, netting a total of over 115,578 in proceeds. Following the sale of shares at $57.16 each, the insider now holds 0 shares.

Before that, KNIGHT KEVIN P had sold 31,129 shares from its account. In a trade valued at $1,930,624, the Executive Chairman traded Knight-Swift Transportation Holdings Inc. shares for $62.02 each. Upon closing the transaction, the insider’s holdings decreased to 31,129 shares, worth approximately $68.99 million.

As published in a research note from Susquehanna on March 04, 2022, Knight-Swift Transportation Holdings Inc. [KNX] has been rated up from a Neutral to a Positive and the price target has been revised to $69 from $62. This represents a 35.41% premium over Wednesday’s closing price. Analysts at Wolfe Research downgraded the stock from ‘”a Peer perform”‘ to ‘”an Underperform”‘ outlook in a report released in early January. As of December 09, 2021, Cowen has reiterated its “an Outperform” rating for KNX. Earlier on October 25, 2021, UBS upgraded its rating. Their new recommendation was “a Buy” for KNX stock which previously was a “a Neutral”.

Analyzing KNX’s Price Performance

On Wednesday, Knight-Swift Transportation Holdings Inc. [NYSE: KNX] plunged -1.07% to $44.57. The stock’s lowest price that day was $44.27, but it reached a high of $45.08 in the same session. During the last five days, there has been a drop of approximately -1.33%. Over the course of the year, Knight-Swift Transportation Holdings Inc. shares have dropped approximately -26.86%. Shares of the company reached a 52-week high of $62.12 on 01/03/22 and a 52-week low of $42.50 on 05/18/22. A 50-day SMA is recorded $47.53, while a 200-day SMA reached $53.17. Nevertheless, trading volume fell to 1.21 million shares from 1.26 million shares the previous day.

Support And Resistance Levels for Knight-Swift Transportation Holdings Inc. (KNX)

According to the 24-hour chart, there is a support level at 44.20, which, if violated, would cause prices to drop to 43.83. In the upper region, resistance lies at 45.01. The next price resistance is at 45.45. RSI (Relative Strength Index) is 39.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.04, which suggests the price will decrease in the coming days. Percent R is at 84.66%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Knight-Swift Transportation Holdings Inc. (KNX)?

According to The Vanguard Group, Inc. filings, the company currently owns 13,676,905 shares, which is about 8.34% of the total KNX shares outstanding. The investor’s shares have appreciated by 95,147 from its previous 13-F filing of 13581758.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $657,072,993. Wellington Management Co. LLP acquire a 13.41% interest valued at $399.78 million while AllianceBernstein LP sold a -1,350,594 stake. A total of -235,854 shares of Knight-Swift Transportation Holdings Inc. were sold by Fidelity Management & Research Co during the quarter, and 166,644 were bought by SSgA Funds Management, Inc. In its current portfolio, Morgan Stanley Smith Barney LLC holds 4,707,582 shares valued at $228.98 million.

In terms of Knight-Swift Transportation Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $61.55 in the next 12 months, up nearly 38.73% from the previous closing price of $45.05. Analysts anticipate Knight-Swift Transportation Holdings Inc. stock to reach $85.00 by 2022, with the lowest price target being $45.00. On September 15, 2021, Cowen assigned a price target of “an Outperform” to the stock and upgraded coverage with a $62.

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