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 $56,240 were sold by LoCoco Domenic on Feb 03 ’25. At $56.24 per share, LoCoco Domenic sold 1,000 shares. The insider’s holdings dropped to 4,303 shares worth approximately $0.24 million following the completion of this transaction.
Also, Pitt Ian sold 1,482 shares, netting a total of over 83,881 in proceeds. Following the sale of shares at $56.60 each, the insider now holds 7,613 shares.
Before that, Jarrett Loren had sold 10,074 shares from its account. In a trade valued at $560,215, the EVP/GM Digital Experience traded Progress Software Corp shares for $55.61 each. Upon closing the transaction, the insider’s holdings decreased to 10,074 shares, worth approximately $0.66 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 -0.93%. Over the course of the year, Progress Software Corp shares have dropped approximately -13.18%. A 50-day SMA is recorded $61.94, while a 200-day SMA reached $59.33. Nevertheless, trading volume fell to 0.67 million shares from 0.38 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 56.19, which, if violated, would cause prices to drop to 55.82. In the upper region, resistance lies at 56.90. The next price resistance is at 57.23. RSI (Relative Strength Index) is 39.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.31, which suggests the price will decrease in the coming days. Percent R is at 65.74%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
