Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $5.45 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 $1.9 million.
As published in a research note from Bernstein on December 03, 2024, Fedex Corp [FDX] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $316 from $337. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in early October. As of September 20, 2024, TD Cowen has reiterated its “Buy” rating for FDX. Earlier on September 20, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for FDX stock which previously was a “an Equal-weight”.
Analyzing FDX Stock Performance
During the last five days, there has been a drop of approximately -2.85%. Over the course of the year, Fedex Corp shares have jumped approximately 7.98%. 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 $281.46, while a 200-day SMA reached $276.02. Nevertheless, trading volume fell to 1.88 million shares from 2.43 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 270.24, which, if violated, would cause prices to drop to 267.31. In the upper region, resistance lies at 278.70. The next price resistance is at 284.23. RSI (Relative Strength Index) is 35.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.34, which suggests the price will decrease in the coming days. Percent R is at 99.03%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
