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. Cheesecake Factory Inc shares valued at $12,573,890 were sold by OVERTON DAVID on Nov 08 ’24. At $46.65 per share, OVERTON DAVID sold 269,520 shares. The insider’s holdings dropped to 2,964,594 shares worth approximately $162.96 million following the completion of this transaction.
Also, OVERTON DAVID purchased 269,520 shares, netting a total of over 12,546,156 in proceeds.
Before that, Carango Keith had sold 13,095 shares from its account. In a trade valued at $653,237, the PRESIDENT (SUBSIDIARY) traded Cheesecake Factory Inc shares for $49.88 each. Upon closing the transaction, the insider’s holdings decreased to 13,095 shares, worth approximately $0.82 million.
As published in a research note from Oppenheimer on January 07, 2025, Cheesecake Factory Inc [CAKE] has been rated up from a Perform to an Outperform and the price target has been revised to $65. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of May 15, 2024, Stephens has reiterated its “an Overweight” rating for CAKE. Earlier on May 10, 2024, Citigroup upgraded its rating. Their new recommendation was “a Buy” for CAKE stock which previously was a “a Neutral”.
Analyzing CAKE Stock Performance
During the last five days, there has been a surge of approximately 6.86%. Over the course of the year, Cheesecake Factory Inc shares have jumped approximately 15.87%. Shares of the company reached a 52-week high of $57.32 on 02/04/25 and a 52-week low of $47.20 on 01/13/25. A 50-day SMA is recorded $51.11, while a 200-day SMA reached $43.03. Nevertheless, trading volume fell to 2.63 million shares from 3.12 million shares the previous day.
Support And Resistance Levels for Cheesecake Factory Inc (CAKE)
According to the 24-hour chart, there is a support level at 53.35, which, if violated, would cause prices to drop to 51.72. In the upper region, resistance lies at 56.25. The next price resistance is at 57.52. RSI (Relative Strength Index) is 58.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.66, which suggests the price will decrease in the coming days. Percent R is at 33.76%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
