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. Cadence Design Systems, Inc shares valued at $169,073 were sold by Nisewaner Karna on Feb 18 ’25. At $296.10 per share, Nisewaner Karna sold 571 shares. The insider’s holdings dropped to 15,364 shares worth approximately $3.9 million following the completion of this transaction.
Also, KARNA NISEWANER purchased 571 shares, netting a total of over 169,073 in proceeds.
Before that, TENG CHIN-CHI had sold 12,760 shares from its account. In a trade valued at $3,878,257, the Sr. Vice President traded Cadence Design Systems, Inc shares for $303.94 each. Upon closing the transaction, the insider’s holdings decreased to 12,760 shares, worth approximately $23.71 million.
As published in their initiating research note from Redburn Atlantic on January 13, 2025, Cadence Design Systems, Inc [CDNS] has been a Buy and the price target has been revised to $350. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in late November. As of November 12, 2024, Loop Capital has initiated its “Buy” rating for CDNS. Earlier on October 22, 2024, Mizuho initiated its rating. Their recommendation was “an Outperform” for CDNS stock.
Analyzing CDNS Stock Performance
During the last five days, there has been a drop of approximately -7.33%. Over the course of the year, Cadence Design Systems, Inc shares have dropped approximately -15.48%. Shares of the company reached a 52-week high of $325.03 on 01/24/25 and a 52-week low of $247.50 on 02/25/25. A 50-day SMA is recorded $297.70, while a 200-day SMA reached $288.35. Nevertheless, trading volume fell to 2.83 million shares from 2.77 million shares the previous day.
Support And Resistance Levels for Cadence Design Systems, Inc (CDNS)
According to the 24-hour chart, there is a support level at 249.81, which, if violated, would cause prices to drop to 245.69. In the upper region, resistance lies at 257.32. The next price resistance is at 260.71. RSI (Relative Strength Index) is 30.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -30.66, which suggests the price will decrease in the coming days. Percent R is at 89.68%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
