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 $52,945 were sold by Broersma Anthony Paul on Oct 16 ’24. At $77.86 per share, Broersma Anthony Paul sold 680 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Drazkowski William Joseph sold 16,362 shares, netting a total of over 1,270,573 in proceeds. Following the sale of shares at $77.65 each, the insider now holds 5,997 shares.
Before that, WISECUP REYNE K had sold 21,818 shares from its account. In a trade valued at $1,713,882, the Director traded Fastenal Co. shares for $78.55 each. Upon closing the transaction, the insider’s holdings decreased to 21,818 shares, worth approximately $1.51 million.
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 drop of approximately -2.60%. Over the course of the year, Fastenal Co. shares have jumped approximately 16.75%. 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 $70.71, while a 200-day SMA reached $69.27. Nevertheless, trading volume fell to 1.97 million shares from 2.36 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 75.17, which, if violated, would cause prices to drop to 74.73. In the upper region, resistance lies at 76.10. The next price resistance is at 76.59. RSI (Relative Strength Index) is 60.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.00, which suggests the price will increase in the coming days. Percent R is at 33.40%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
