Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cisco Systems, Inc shares valued at $31,319 were sold by Wong Maria Victoria on Sep 12 ’24. At $49.09 per share, Wong Maria Victoria sold 638 shares. The insider’s holdings dropped to 46,017 shares worth approximately $2.67 million following the completion of this transaction.
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Also, Subaiya Thimaya K. sold 1,328 shares, netting a total of over 64,966 in proceeds. Following the sale of shares at $48.92 each, the insider now holds 132,910 shares.
Before that, Stahlkopf Deborah L had sold 2,642 shares from its account. In a trade valued at $129,335, the EVP and Chief Legal Officer traded Cisco Systems, Inc shares for $48.95 each. Upon closing the transaction, the insider’s holdings decreased to 2,642 shares, worth approximately $9.36 million.
As published in a research note from Citigroup on October 16, 2024, Cisco Systems, Inc [CSCO] has been rated up from a Neutral to a Buy and the price target has been revised to $62 from $52. Analysts at HSBC Securities upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid August. As of August 15, 2024, New Street has increased its “Neutral” rating to a “Buy” for CSCO. Earlier on May 13, 2024, Exane BNP Paribas upgraded its rating. Their new recommendation was “a Neutral” for CSCO stock which previously was a “an Underperform”.
Analyzing CSCO Stock Performance
During the last five days, there has been a surge of approximately 6.04%. Over the course of the year, Cisco Systems, Inc shares have jumped approximately 14.96%. Shares of the company reached a 52-week high of $58.30 on 11/07/24 and a 52-week low of $44.50 on 08/12/24. A 50-day SMA is recorded $53.15, while a 200-day SMA reached $49.39. Nevertheless, trading volume fell to 17.48 million shares from 20.51 million shares the previous day.
Support And Resistance Levels for Cisco Systems, Inc (CSCO)
According to the 24-hour chart, there is a support level at 57.65, which, if violated, would cause prices to drop to 57.21. In the upper region, resistance lies at 58.41. The next price resistance is at 58.73. RSI (Relative Strength Index) is 73.91 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.23, which suggests the price will increase in the coming days. Percent R is at 5.84%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
