Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cadence Design Systems, Inc. shares valued at $181,871 were sold by Nisewaner Karna on Sep 17 ’24. At $275.98 per share, Nisewaner Karna sold 659 shares. The insider’s holdings dropped to 16,029 shares worth approximately $4.32 million following the completion of this transaction.
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Also, SANGIOVANNI VINCENTELLI ALBERT purchased 1,500 shares, netting a total of over 413,970 in proceeds.
Before that, KARNA NISEWANER had added 659 shares to its account. In a trade valued at $181,871, the Officer bought Cadence Design Systems, Inc. shares for $275.98 each.
As published in a research note from Piper Sandler on August 06, 2024, Cadence Design Systems, Inc. [CDNS] has been rated up from a Neutral to an Overweight and the price target has been revised to $318. Analysts at Piper Sandler started covering the stock with ‘”a Neutral”‘ outlook in a report released in early April. As of February 14, 2024, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for CDNS. Earlier on February 13, 2024, Rosenblatt downgraded its rating. Their new recommendation was “a Neutral” for CDNS stock which previously was a “a Buy”.
Analyzing CDNS Stock Performance
During the last five days, there has been a surge of approximately 1.88%. Over the course of the year, Cadence Design Systems, Inc. shares have dropped approximately -0.98%. Shares of the company reached a 52-week high of $328.99 on 06/20/24 and a 52-week low of $241.29 on 08/05/24. A 50-day SMA is recorded $272.08, while a 200-day SMA reached $287.98. Nevertheless, trading volume fell to 1.42 million shares from 1.33 million shares the previous day.
Support And Resistance Levels for Cadence Design Systems, Inc. (CDNS)
According to the 24-hour chart, there is a support level at 267.21, which, if violated, would cause prices to drop to 264.72. In the upper region, resistance lies at 274.44. The next price resistance is at 279.18. RSI (Relative Strength Index) is 51.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 10.18, which suggests the price will increase in the coming days. Percent R is at 28.44%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
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