Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Autozone Inc. shares valued at $99,256 were purchased by BEDSOLE JENNA M. on May 23 ’24. At $2757.10 per share, BEDSOLE JENNA M. acquired 36 shares. The insider’s holdings grew to 36 shares worth approximately $0.1 million following the completion of this transaction.
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Also, RHODES WILLIAM C III sold 6,700 shares, netting a total of over 21,374,499 in proceeds. Following the sale of shares at $3190.22 each, the insider now holds 15,357 shares.
Before that, RHODES WILLIAM C III had sold 2,800 shares from its account. In a trade valued at $8,933,092, the Executive Chairman traded Autozone Inc. shares for $3190.39 each. Upon closing the transaction, the insider’s holdings decreased to 2,800 shares, worth approximately $62.88 million.
As published in their initiating research note from Mizuho on March 19, 2024, Autozone Inc. [AZO] has been a Buy and the price target has been revised to $3450. As of December 06, 2023, Raymond James has increased its “an Outperform” rating to a “Strong buy” for AZO. Earlier on October 10, 2023, TD Cowen initiated its rating. Their recommendation was “an Outperform” for AZO stock.
Analyzing AZO Stock Performance
During the last five days, there has been a drop of approximately -2.70%. Over the course of the year, Autozone Inc. shares have jumped approximately 10.25%. Shares of the company reached a 52-week high of $3,256.37 on 03/22/24 and a 52-week low of $2,510.00 on 01/09/24. A 50-day SMA is recorded $2,890.22, while a 200-day SMA reached $2,780.89. Nevertheless, trading volume fell to 88678.0 shares from 0.13 million shares the previous day.
Support And Resistance Levels for Autozone Inc. (AZO)
According to the 24-hour chart, there is a support level at 2,818.59, which, if violated, would cause prices to drop to 2,792.29. In the upper region, resistance lies at 2,870.59. The next price resistance is at 2,896.29. RSI (Relative Strength Index) is 45.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -70.36, which suggests the price will decrease in the coming days. Percent R is at 79.90%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
