Insider Selling: Herren Richard Scott, Cisco Systems, Inc. [CSCO] EVP and CFO divested 106,321 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cisco Systems, Inc. shares valued at $5,318,634 were sold by Herren Richard Scott on Dec 18. At $50.02 per share, Herren Richard Scott sold 106,321 shares. The insider’s holdings dropped to 345,994 shares worth approximately $17.28 million following the completion of this transaction.

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Also, Herren Richard Scott sold 13,616 shares, netting a total of over 680,800 in proceeds. Following the sale of shares at $50.00 each, the insider now holds 452,315 shares.

Before that, Wong Maria Victoria had sold 158 shares from its account. In a trade valued at $7,900, the SVP & Chief Acctg Officer traded Cisco Systems, Inc. shares for $50.00 each. Upon closing the transaction, the insider’s holdings decreased to 158 shares, worth approximately $3.35 million.

As published in a research note from Melius on January 08, 2024, Cisco Systems, Inc. [CSCO] has been rated down from a Buy to a Hold.

Analyzing CSCO Stock Performance

During the last five days, there has been a drop of approximately -0.46%. Over the course of the year, Cisco Systems, Inc. shares have dropped approximately -1.13%. Shares of the company reached a 52-week high of $52.62 on 01/26/24 and a 52-week low of $49.26 on 02/05/24. A 50-day SMA is recorded $50.03, while a 200-day SMA reached $51.43. Nevertheless, trading volume fell to 18.58 million shares from 16.79 million shares the previous day.

Support And Resistance Levels for Cisco Systems, Inc. (CSCO)

According to the 24-hour chart, there is a support level at 49.67, which, if violated, would cause prices to drop to 49.39. In the upper region, resistance lies at 50.11. The next price resistance is at 50.27. RSI (Relative Strength Index) is 43.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.06, which suggests the price will decrease in the coming days. Percent R is at 79.46%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Cisco Systems, Inc. subject to short interest?

Stocks of Cisco Systems, Inc. saw a sharp rise in short interest on Jan 11, 2024 jumping by 4.24 million shares to 44.31 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 40.07 million shares. A jump of 9.57% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.35 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.35.

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