The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Fastenal Company shares valued at $49,330 were purchased by Lisowski Sheryl Ann on Jul 14. At $46.63 per share, Lisowski Sheryl Ann acquired 1,058 shares. The insider’s holdings grew to 5,096 shares worth approximately $0.27 million following the completion of this transaction.
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Also, Jansen James C purchased 1,000 shares, netting a total of over 48,920 in proceeds. Following the buying of shares at $48.92 each, the insider now holds 26,176 shares.
Before that, Lewis Holden had added 1,000 shares to its account. In a trade valued at $49,440, the CHIEF FINANCIAL OFFICER/EVP bought Fastenal Company shares for $49.44 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $0.5 million.
As published in a research note from Robert W. Baird on July 14, 2022, Fastenal Company [FAST] has been rated down from an Outperform to a Neutral and the price target has been revised to $48. This represents a -8.94% premium over Thursday’s closing price. Analysts at Wells Fargo upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early March. As of October 08, 2021, Wells Fargo has decreased its “an Equal weight” rating to a “an Underweight” for FAST. Earlier on August 03, 2021, Loop Capital initiated its rating. Their recommendation was “a Hold” for FAST stock.
Analyzing FAST’s Price Performance
On Thursday, Fastenal Company [NASDAQ: FAST] rose 0.91% to $52.29. The stock’s lowest price that day was $52.07, but it reached a high of $52.59 in the same session. During the last five days, there has been a surge of approximately 4.79%. Over the course of the year, Fastenal Company shares have dropped approximately -18.37%. Shares of the company reached a 52-week high of $64.10 on 01/03/22 and a 52-week low of $45.68 on 07/14/22. A 50-day SMA is recorded $50.64, while a 200-day SMA reached $55.65. Nevertheless, trading volume fell to 2.53 million shares from 3.03 million shares the previous day.
Support And Resistance Levels for Fastenal Company (FAST)
According to the 24-hour chart, there is a support level at 52.04, which, if violated, would cause prices to drop to 51.80. In the upper region, resistance lies at 52.56. The next price resistance is at 52.84. RSI (Relative Strength Index) is 62.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.13, which suggests the price will increase in the coming days. Percent R is at 5.41%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Fastenal Company subject to short interest?
Stocks of Fastenal Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.15 million shares to 11.85 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.0 million shares. A decline of -9.7% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.07 of the overall float, the days-to-cover ratio (short ratio) decline to 3.07.
Which companies own the most shares of Fastenal Company (FAST)?
According to The Vanguard Group, Inc. filings, the company currently owns 66,182,725 shares, which is about 11.50% of the total FAST shares outstanding. The investor’s shares have appreciated by 1,654,817 from its previous 13-F filing of 64527908.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,557,984,730. SSgA Funds Management, Inc. reduced a -3.70% interest valued at $1.36 billion while Walter Scott & Partners Ltd. sold a -532,990 stake. A total of 673,254 shares of Fastenal Company were sold by Geode Capital Management LLC during the quarter, and 681,328 were bought by Charles Schwab Investment Managem. In its current portfolio, Principal Global Investors LLC holds 9,140,215 shares valued at $456.28 million.
In terms of Fastenal Company share price expectations, FactSet research, analysts set an average price target of $48.22 in the next 12 months, down nearly -7.37% from the previous closing price of $51.82. Analysts anticipate Fastenal Company stock to reach $60.00 by 2022, with the lowest price target being $42.00. In spite of this, 14 analysts ranked Fastenal Company stock as a Hold at the end of 2022. On June 15, 2021, Morgan Stanley assigned a price target of “an Underweight” to the stock and downgraded coverage with a $48.