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 $1,738,414 were sold by LUNDQUIST NICHOLAS J on Oct 15 ’24. At $77.15 per share, LUNDQUIST NICHOLAS J sold 22,532 shares. The insider’s holdings dropped to 426,000 shares worth approximately $33.07 million following the completion of this transaction.
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Also, Soderberg John Lewis sold 488 shares, netting a total of over 37,245 in proceeds. Following the sale of shares at $76.32 each, the insider now holds 0 shares.
Before that, WILLIAM J. DRAZKOWSKI had added 16,362 shares to its account. In a trade valued at $1,270,573, the Officer bought Fastenal Co. shares for $77.65 each.
As published in their initiating research note from BofA Securities on October 07, 2024, Fastenal Co. [FAST] has been a Buy and the price target has been revised to $85. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in early September. As of September 15, 2023, HSBC Securities has initiated its “Hold” rating for FAST. Earlier on July 13, 2023, Stephens downgraded its rating. Their new recommendation was “an Equal-weight” for FAST stock which previously was a “an Overweight”.
Analyzing FAST Stock Performance
During the last five days, there has been a surge of approximately 10.93%. Over the course of the year, Fastenal Co. shares have jumped approximately 19.87%. 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 $69.65, while a 200-day SMA reached $68.91. Nevertheless, trading volume fell to 2.76 million shares from 2.63 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 76.91, which, if violated, would cause prices to drop to 76.17. In the upper region, resistance lies at 78.27. The next price resistance is at 78.89. RSI (Relative Strength Index) is 75.87 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.48, which suggests the price will increase in the coming days. Percent R is at 11.88%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
