Cadence Design Systems, Inc.’s recently made public that its Sr. Vice President Cunningham Paul unloaded Company’s shares for reported $0.19 million on Jun 11 ’24. In the deal valued at $295.00 per share,650 shares were sold. As a result of this transaction, Cunningham Paul now holds 66,494 shares worth roughly $20.75 million.
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Then, TENG CHIN-CHI sold 32,184 shares, generating $9,573,183 in total proceeds. Upon selling the shares at $297.45, the Sr. Vice President now owns 95,408 shares.
Before that, Nisewaner Karna sold 600 shares. Cadence Design Systems, Inc. shares valued at $172,386 were divested by the SVP & General Counsel at a price of $287.31 per share. As a result of the transaction, Nisewaner Karna now holds 19,880 shares, worth roughly $6.2 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 jump 1.48% to $312.10. Over the last five days, the stock has gained 6.01%. Cadence Design Systems, Inc. shares have risen nearly 14.59% since the year began. Nevertheless, the stocks have risen 32.21% 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 $291.72, while 200 days put it at $276.58. A total of 1.43 million shares were traded, compared to the trading of 1.56 million shares in the previous session.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 308.57, which if violated will result in even more drops to 305.05. On the upside, there is a resistance level at 314.10. A further resistance level may holdings at 316.11. The Relative Strength Index (RSI) on the 14-day chart is 67.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 13.97, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 12.72%. Stochastics %K at 86.48% indicates the stock is a selling.
