In a filing, Cadence Design Systems, Inc. revealed its Sr. VP & CFO WALL JOHN M unloaded Company’s shares for reported $6589.0 on Oct 08 ’24. In the deal valued at $263.57 per share,25 shares were sold. As a result of this transaction, WALL JOHN M now holds 35,853 shares worth roughly $-10.12 million.
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Then, JOHN M WALL bought 25 shares, generating $6,589 in total proceeds.
Before that, Cunningham Paul sold 650 shares. Cadence Design Systems, Inc. shares valued at $177,736 were divested by the Sr. Vice President at a price of $273.44 per share. As a result of the transaction, Cunningham Paul now holds 61,761 shares, worth roughly $17.43 million.
Oppenheimer initiated its Cadence Design Systems, Inc. [CDNS] rating to an Underperform in a research note published on September 25, 2024; the price target was $225. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in early August from “a Neutral” to “an Overweight”. Piper Sandler began covering CDNS with “Neutral” recommendation on April 04, 2024. Morgan Stanley revised its rating on February 14, 2024. It rated CDNS as “an Overweight” which previously was an “an Equal-weight”.
Price Performance Review of CDNS
On Monday, Cadence Design Systems, Inc. [NASDAQ:CDNS] saw its stock fall -0.09% to $282.14. Over the last five days, the stock has gained 7.33%. Cadence Design Systems, Inc. shares have risen nearly 3.59% since the year began. Nevertheless, the stocks have risen 11.87% over the past one year. While a 52-week high of $328.99 was reached on 06/20/24, a 52-week low of $228.66 was recorded on 08/05/24. SMA at 50 days reached $269.05, while 200 days put it at $288.29.
Levels Of Support And Resistance For CDNS Stock
The 24-hour chart illustrates a support level at 280.34, which if violated will result in even more drops to 278.53. On the upside, there is a resistance level at 284.47. A further resistance level may holdings at 286.80. The Relative Strength Index (RSI) on the 14-day chart is 60.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 9.32, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 12.09%. Stochastics %K at 93.37% indicates the stock is a selling.
How much short interest is there in Cadence Design Systems, Inc.?
A steep rise in short interest was recorded in Cadence Design Systems, Inc. stocks on 2024-09-30, growing by 18607.0 shares to a total of 3.36 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 3.34 million shares. There was a rise of 0.55%, which implies that there is a positive sentiment for the stock.
