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. Fedex Corp shares valued at $607,822 were sold by Carere Brie on Jul 18 ’24. At $310.43 per share, Carere Brie sold 1,958 shares. The insider’s holdings dropped to 19,937 shares worth approximately $5.81 million following the completion of this transaction.
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Also, Krishnasamy Sriram sold 8,421 shares, netting a total of over 2,611,718 in proceeds. Following the sale of shares at $310.14 each, the insider now holds 12,246 shares.
Before that, Ellison Marvin R had sold 2,535 shares from its account. In a trade valued at $758,831, the Director traded Fedex Corp shares for $299.34 each. Upon closing the transaction, the insider’s holdings decreased to 2,535 shares, worth approximately $2.03 million.
As published in a research note from JP Morgan on June 26, 2024, Fedex Corp [FDX] has been rated up from a Neutral to an Overweight and the price target has been revised to $359 from $296. Analysts at TD Cowen resumed the stock at ‘”a Buy”‘ outlook in a report released in late June. As of June 07, 2024, Wells Fargo has initiated its “an Equal weight” rating for FDX. Earlier on March 27, 2024, Exane BNP Paribas downgraded its rating. Their new recommendation was “an Underperform” for FDX stock which previously was a “a Neutral”.
Analyzing FDX Stock Performance
During the last five days, there has been a surge of approximately 2.89%. Over the course of the year, Fedex Corp shares have jumped approximately 15.24%. Shares of the company reached a 52-week high of $313.84 on 07/16/24 and a 52-week low of $234.45 on 02/16/24. A 50-day SMA is recorded $285.91, while a 200-day SMA reached $263.54. Nevertheless, trading volume fell to 0.79 million shares from 0.59 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 289.67, which, if violated, would cause prices to drop to 287.81. In the upper region, resistance lies at 293.00. The next price resistance is at 294.48. RSI (Relative Strength Index) is 55.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.26, which suggests the price will increase in the coming days. Percent R is at 14.81%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
