Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Progress Software Corp shares valued at $106,574 were sold by Jarrett Loren on Nov 04 ’24. At $63.97 per share, Jarrett Loren sold 1,666 shares. The insider’s holdings dropped to 13,524 shares worth approximately $0.89 million following the completion of this transaction.
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Also, Subramanian Sundar sold 649 shares, netting a total of over 41,549 in proceeds. Following the sale of shares at $64.02 each, the insider now holds 18,469 shares.
Before that, LoCoco Domenic had sold 6,086 shares from its account. In a trade valued at $389,626, the Chief Accounting Officer traded Progress Software Corp shares for $64.02 each. Upon closing the transaction, the insider’s holdings decreased to 6,086 shares, worth approximately $0.34 million.
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 drop of approximately -5.33%. Over the course of the year, Progress Software Corp shares have jumped approximately 21.40%. Shares of the company reached a 52-week high of $70.56 on 11/25/24 and a 52-week low of $48.00 on 06/26/24. A 50-day SMA is recorded $67.08, while a 200-day SMA reached $57.62. Nevertheless, trading volume fell to 0.69 million shares from 0.49 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 65.41, which, if violated, would cause prices to drop to 64.91. In the upper region, resistance lies at 66.88. The next price resistance is at 67.85. RSI (Relative Strength Index) is 39.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.54, which suggests the price will decrease in the coming days. Percent R is at 98.87%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
