The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Progress Software Corp. shares valued at $537,916 were sold by Gupta Yogesh K on Oct 01 ’24. At $67.00 per share, Gupta Yogesh K sold 8,028 shares. The insider’s holdings dropped to 148,245 shares worth approximately $9.67 million following the completion of this transaction.
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Also, WANG YUFAN STEPHANIE sold 1,428 shares, netting a total of over 93,177 in proceeds. Following the sale of shares at $65.25 each, the insider now holds 0 shares.
Before that, JEREMY SEGAL had added 3,581 shares to its account. In a trade valued at $233,286, the Officer bought Progress Software Corp. shares for $65.15 each.
As published in their initiating research note from DA Davidson on March 28, 2024, Progress Software Corp. [PRGS] has been a Buy and the price target has been revised to $65. As of September 09, 2022, Jefferies has initiated its “Hold” rating for PRGS. Earlier on August 12, 2022, Guggenheim initiated its rating. Their recommendation was “a Buy” for PRGS stock.
Analyzing PRGS Stock Performance
During the last five days, there has been a surge of approximately 0.63%. Over the course of the year, Progress Software Corp. shares have jumped approximately 20.11%. Shares of the company reached a 52-week high of $67.48 on 10/01/24 and a 52-week low of $48.00 on 06/26/24. A 50-day SMA is recorded $59.19, while a 200-day SMA reached $54.78. Nevertheless, trading volume fell to 0.73 million shares from 0.42 million shares the previous day.
Support And Resistance Levels for Progress Software Corp. (PRGS)
According to the 24-hour chart, there is a support level at 64.76, which, if violated, would cause prices to drop to 64.30. In the upper region, resistance lies at 66.10. The next price resistance is at 66.99. RSI (Relative Strength Index) is 62.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.45, which suggests the price will increase in the coming days. Percent R is at 20.09%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
