Knight-Swift slides 5.5% as investors weigh trucking-cycle concerns and recent convertible-note overhang

Knight-Swift Transportation Holdings Inc. (KNX) is down 5.5% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to trucking-sector sentiment and positioning rather than a single new headline, with investors continuing to weigh a slower-demand backdrop alongside the lingering technical overhang from Knight-Swift’s recent convertible-notes financing. This could also be simple profit-taking after prior gains, especially if broader cyclicals are weaker during the session.

Details:

Knight-Swift recently priced an upsized $1.3 billion convertible senior notes offering due 2031, which can create near-term pressure as the market digests potential future dilution and related hedging flows.

The company disclosed it entered capped-call transactions alongside the convertible issuance, and noted that counterparties may buy/sell shares or use derivatives to manage hedges, activity that can influence the stock’s trading dynamics.

Knight-Swift said it released results for the quarter ended March 31, 2026 and indicated the earnings materials would be filed via a Form 8-K, keeping investor focus on near-term execution and the freight-rate cycle.

Sector-level caution has persisted amid debate about when U.S. truckload pricing and demand meaningfully improve, which can amplify downside moves on days with risk-off tape action.

Sources:

Knight-Swift Investor Relations, U.S. SEC (EDGAR), Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$KNX Insider Trading Activity

$KNX insiders have traded $KNX stock on the open market 10 times in the past 6 months. Of those trades, 0 have been purchases and 10 have been sales.

Here’s a breakdown of recent trading of $KNX stock by insiders over the last 6 months:

KEVIN P KNIGHT (Executive Chairman) has made 0 purchases and 6 sales selling 135,000 shares for an estimated $7,816,238.
JOSHUA SMITH (CFO - US Xpress) sold 5,770 shares for an estimated $351,473
JAMES L FITZSIMMONS (COO Swift Transportation) sold 5,917 shares for an estimated $324,074
REED STULTZ (SR VP - Logistics) sold 4,692 shares for an estimated $241,661
MICHAEL K LIU (EVP - Operations) sold 1,243 shares for an estimated $75,661

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

EARLY ACCESS

Receive KNX Data Alerts

Real-time alerts on filings, insider trades, and market signals — before everyone else.

Get Alerts →

$KNX Hedge Fund Activity

We have seen 285 institutional investors add shares of $KNX stock to their portfolio, and 224 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

WELLINGTON MANAGEMENT GROUP LLP removed 6,973,558 shares (-54.0%) from their portfolio in Q1 2026, for an estimated $401,537,469
FMR LLC removed 6,665,427 shares (-40.7%) from their portfolio in Q1 2026, for an estimated $383,795,286
JUNTO CAPITAL MANAGEMENT LP removed 2,262,145 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $118,264,940
D1 CAPITAL PARTNERS L.P. removed 2,226,736 shares (-28.9%) from their portfolio in Q1 2026, for an estimated $128,215,458
INVESCO LTD. added 2,022,996 shares (+513.6%) to their portfolio in Q4 2025, for an estimated $105,762,230
BALYASNY ASSET MANAGEMENT L.P. removed 2,015,077 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $116,028,133
CITADEL ADVISORS LLC added 1,670,201 shares (+414.2%) to their portfolio in Q1 2026, for an estimated $96,170,173

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$KNX Analyst Ratings

Wall Street analysts have issued reports on $KNX in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Stephens & Co. issued a "Overweight" rating on 01/22/2026
Benchmark issued a "Buy" rating on 01/15/2026
Barclays issued a "Overweight" rating on 01/15/2026
Wells Fargo issued a "Overweight" rating on 01/06/2026
Citigroup issued a "Buy" rating on 12/10/2025

To track analyst ratings and price targets for $KNX, check out Quiver Quantitative's $KNX forecast page.

$KNX Price Targets

Multiple analysts have issued price targets for $KNX recently. We have seen 13 analysts offer price targets for $KNX in the last 6 months, with a median target of $70.0.

Here are some recent targets:

Thomas Wadewitz from UBS set a target price of $94.0 on 06/01/2026
Dan Moore from Baird set a target price of $70.0 on 04/23/2026
Christopher Kuhn from Benchmark set a target price of $75.0 on 04/23/2026
J. Bruce Chan from Stifel set a target price of $70.0 on 04/23/2026
Jonathan Chappell from Evercore ISI Group set a target price of $63.0 on 04/23/2026
Jason H. Seidl from TD Cowen set a target price of $78.0 on 04/23/2026
Bascome Majors from Susquehanna set a target price of $72.0 on 04/22/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.