Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Fedex Corp shares valued at $31,105,700 were sold by SMITH FREDERICK W on Apr 09 ’24. At $274.30 per share, SMITH FREDERICK W sold 113,400 shares. The insider’s holdings dropped to 14,505,844 shares worth approximately $3.82 billion following the completion of this transaction.
Also, Brightman Tracy B sold 2,550 shares, netting a total of over 703,010 in proceeds. Following the sale of shares at $275.69 each, the insider now holds 6,294 shares.
Before that, Subramaniam Rajesh had sold 18,384 shares from its account. In a trade valued at $5,047,342, the President/CEO traded Fedex Corp shares for $274.55 each. Upon closing the transaction, the insider’s holdings decreased to 18,384 shares, worth approximately $14.6 million.
As published in a research note from Exane BNP Paribas on March 27, 2024, Fedex Corp [FDX] has been rated down from a Neutral to an Underperform and the price target has been revised to $250. Analysts at TD Cowen resumed the stock at ‘”an Outperform”‘ outlook in a report released in late March. As of January 08, 2024, Melius has increased its “Hold” rating to a “Buy” for FDX. Earlier on December 12, 2023, TD Cowen resumed its rating. Their recommendation was “an Outperform” for FDX stock.
Analyzing FDX Stock Performance
During the last five days, there has been a drop of approximately -2.67%. Over the course of the year, Fedex Corp shares have jumped approximately 3.99%. Shares of the company reached a 52-week high of $291.27 on 03/22/24 and a 52-week low of $234.45 on 02/16/24. A 50-day SMA is recorded $257.43, while a 200-day SMA reached $255.92. Nevertheless, trading volume fell to 1.32 million shares from 1.42 million shares the previous day.
Support And Resistance Levels for Fedex Corp (FDX)
According to the 24-hour chart, there is a support level at 261.55, which, if violated, would cause prices to drop to 260.03. In the upper region, resistance lies at 265.26. The next price resistance is at 267.45. RSI (Relative Strength Index) is 44.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.63, which suggests the price will decrease in the coming days. Percent R is at 96.99%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
