Cadence Design Systems, Inc.’s recent filing unveils that its Sr. Vice President Cunningham Paul unloaded Company’s shares for reported $0.31 million on Apr 01 ’24. In the deal valued at $310.46 per share,1,000 shares were sold. As a result of this transaction, Cunningham Paul now holds 68,144 shares worth roughly $20.84 million.
Then, Nisewaner Karna sold 600 shares, generating $186,276 in total proceeds. Upon selling the shares at $310.46, the SVP & General Counsel now owns 21,080 shares.
Before that, WALL JOHN M sold 21,700 shares. Cadence Design Systems, Inc. shares valued at $6,757,342 were divested by the Sr. VP & CFO at a price of $311.40 per share. As a result of the transaction, WALL JOHN M now holds 41,035 shares, worth roughly $12.55 million.
Piper Sandler initiated its Cadence Design Systems, Inc. [CDNS] rating to a Neutral in a research note published on April 04, 2024; the price target was $334. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in mid February from “an Equal-weight” to “an Overweight”. Rosenblatt also remained covering CDNS and has decreased its forecast on February 13, 2024 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley started covering the stock on November 10, 2023. It rated CDNS as “an Equal-weight”.
Price Performance Review of CDNS
On Friday, Cadence Design Systems, Inc. [NASDAQ:CDNS] saw its stock fall -1.37% to $305.85. Over the last five days, the stock has lost -0.70%. Cadence Design Systems, Inc. shares have risen nearly 12.29% since the year began. Nevertheless, the stocks have risen 44.15% over the past one year. While a 52-week high of $327.36 was reached on 03/21/24, a 52-week low of $194.01 was recorded on 01/05/24. SMA at 50 days reached $306.18, while 200 days put it at $264.00. A total of 1.11 million shares were traded, compared to the trading of 1.29 million shares in the previous session.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 304.28, which if violated will result in even more drops to 302.71. On the upside, there is a resistance level at 307.15. A further resistance level may holdings at 308.46. The Relative Strength Index (RSI) on the 14-day chart is 47.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.53%. Stochastics %K at 18.45% indicates the stock is a buying.
