FactSet Shares Plunge 12.73% in Five Days, Hit 2024 Low

FactSet (FDS) shares fell 1.66% today, marking the fifth consecutive day of decline, with a total drop of 12.73% over the past five days. The stock price hit its lowest level since June 2024, with an intraday decline of 2.83%.

Wells Fargo & Company MN recently reduced its stake in FactSet Research Systems Inc. by 2.3% in the fourth quarter. This move may have influenced investor sentiment, contributing to the recent fluctuations in the stock price. The reduction in holdings by a major institutional investor can often signal a shift in market confidence, leading to increased volatility and potential sell-offs.

Analysts have adjusted their target price for FactSet, raising it to $480.00 from the current price of $404.08. This adjustment reflects positive expectations and forecasts for the company's future performance. Such revisions can impact investor decisions, potentially leading to increased buying activity and a rebound in the stock price. However, the recent decline suggests that these positive forecasts have not yet translated into market confidence.