Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Corpay Inc. shares valued at $2,034,345 were sold by King Alan on Mar 07 ’24. At $290.45 per share, King Alan sold 7,004 shares. The insider’s holdings dropped to 19,114 shares worth approximately $5.15 million following the completion of this transaction.
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Also, Vickery Alissa B sold 2,794 shares, netting a total of over 811,130 in proceeds. Following the sale of shares at $290.31 each, the insider now holds 1,885 shares.
Before that, Clarke Ronald had sold 118,428 shares from its account. In a trade valued at $33,377,748, the CEO & Chairman of BOD traded Corpay Inc. shares for $281.84 each. Upon closing the transaction, the insider’s holdings decreased to 118,428 shares, worth approximately $544.8 million.
As published in their initiating research note from Wells Fargo on June 05, 2024, Corpay Inc. [CPAY] has been an Equal weight and the price target has been revised to $285. Analysts at Wolfe Research downgraded the stock from ‘”a Peer perform”‘ to ‘”an Underperform”‘ outlook in a report released in mid May. As of March 04, 2024, Robert W. Baird has increased its “Neutral” rating to a “an Outperform” for CPAY. Earlier on December 05, 2023, BMO Capital Markets initiated its rating. Their recommendation was “an Outperform” for CPAY stock.
Analyzing CPAY Stock Performance
During the last five days, there has been a surge of approximately 2.59%. Over the course of the year, Corpay Inc. shares have dropped approximately -4.73%. Shares of the company reached a 52-week high of $319.94 on 03/25/24 and a 52-week low of $247.10 on 06/17/24. A 50-day SMA is recorded $278.07, while a 200-day SMA reached $272.37. Nevertheless, trading volume fell to 0.61 million shares from 0.57 million shares the previous day.
Support And Resistance Levels for Corpay Inc. (CPAY)
According to the 24-hour chart, there is a support level at 265.86, which, if violated, would cause prices to drop to 262.48. In the upper region, resistance lies at 271.52. The next price resistance is at 273.79. RSI (Relative Strength Index) is 53.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.69, which suggests the price will increase in the coming days. Percent R is at 11.72%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
