Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Fastenal Co. shares valued at $3,117,056 were sold by FLORNESS DANIEL L on Aug 21 ’24. At $68.14 per share, FLORNESS DANIEL L sold 45,744 shares. The insider’s holdings dropped to 286,018 shares worth approximately $19.31 million following the completion of this transaction.
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Also, DANIEL LARS FLORNESS purchased 45,744 shares, netting a total of over 3,117,056 in proceeds.
Before that, HSU Hsenghung Sam had added 500 shares to its account. In a trade valued at $31,640, the Director bought Fastenal Co. shares for $63.28 each. Upon closing the transaction, the insider’s holdings increased to 500 shares, worth approximately $0.24 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 1.32%. Over the course of the year, Fastenal Co. shares have jumped approximately 4.23%. 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 $66.09, while a 200-day SMA reached $67.27. Nevertheless, trading volume fell to 1.6 million shares from 1.58 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 66.97, which, if violated, would cause prices to drop to 66.44. In the upper region, resistance lies at 68.21. The next price resistance is at 68.91. RSI (Relative Strength Index) is 52.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.02, which suggests the price will increase in the coming days. Percent R is at 26.10%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
