Cadence Design Systems, Inc.’s recently made public that its SVP & General Counsel Nisewaner Karna unloaded Company’s shares for reported $0.17 million on Jun 03 ’24. In the deal valued at $287.31 per share,600 shares were sold. As a result of this transaction, Nisewaner Karna now holds 19,880 shares worth roughly $5.85 million.
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Then, SANGIOVANNI VINCENTELLI ALBERT sold 1,500 shares, generating $430,705 in total proceeds. Upon selling the shares at $287.14, the Director now owns 49,551 shares.
Before that, Cunningham Paul sold 1,000 shares. Cadence Design Systems, Inc. shares valued at $275,360 were divested by the Sr. Vice President at a price of $275.36 per share. As a result of the transaction, Cunningham Paul now holds 67,144 shares, worth roughly $19.77 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 -0.45% to $294.42. Over the last five days, the stock has gained 2.83%. Cadence Design Systems, Inc. shares have risen nearly 8.10% since the year began. Nevertheless, the stocks have risen 32.34% over the past one year. While a 52-week high of $327.36 was reached on 03/21/24, a 52-week low of $217.77 was recorded on 01/05/24. SMA at 50 days reached $292.09, while 200 days put it at $274.77. A total of 0.93 million shares were traded, compared to the trading of 1.24 million shares in the previous session.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 292.19, which if violated will result in even more drops to 289.95. On the upside, there is a resistance level at 298.03. A further resistance level may holdings at 301.63. The Relative Strength Index (RSI) on the 14-day chart is 54.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.62, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 32.80%. Stochastics %K at 72.03% indicates the stock is a holding.
