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Insider Buying: Johnson Daniel L., Fastenal Co. [FAST] Director invested 3,350 shares


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 Co. shares valued at $229,056 were purchased by Johnson Daniel L. on Apr 17 ’24. At $68.38 per share, Johnson Daniel L. acquired 3,350 shares. The insider’s holdings grew to 10,595 shares worth approximately $0.72 million following the completion of this transaction.

Also, Miller Charles S. sold 11,076 shares, netting a total of over 832,453 in proceeds. Following the sale of shares at $75.16 each, the insider now holds 0 shares.

Before that, Watts Jeffery Michael had sold 19,420 shares from its account. In a trade valued at $1,364,208, the CHIEF SALES OFFICER traded Fastenal Co. shares for $70.25 each. Upon closing the transaction, the insider’s holdings decreased to 19,420 shares, worth approximately $0.4 million.

As published in their initiating research note from HSBC Securities on September 15, 2023, Fastenal Co. [FAST] has been a Hold and the price target has been revised to $59. Analysts at Stephens downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid July. As of April 04, 2023, Stifel has initiated its “Buy” rating for FAST.

Analyzing FAST Stock Performance

During the last five days, there has been a surge of approximately 0.65%. Over the course of the year, Fastenal Co. shares have jumped approximately 5.26%. Shares of the company reached a 52-week high of $79.04 on 03/21/24 and a 52-week low of $61.33 on 01/09/24. A 50-day SMA is recorded $73.15, while a 200-day SMA reached $63.70. Nevertheless, trading volume fell to 3.34 million shares from 3.08 million shares the previous day.

Support And Resistance Levels for Fastenal Co. (FAST)

According to the 24-hour chart, there is a support level at 67.68, which, if violated, would cause prices to drop to 67.18. In the upper region, resistance lies at 68.73. The next price resistance is at 69.27. RSI (Relative Strength Index) is 33.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.07, which suggests the price will decrease in the coming days. Percent R is at 70.30%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

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