Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 15.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,071 shares of the software maker’s stock after selling 5,314 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Cadence Design Systems were worth $9,035,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CDNS. Creative Planning boosted its holdings in shares of Cadence Design Systems by 9.1% in the 3rd quarter. Creative Planning now owns 48,389 shares of the software maker’s stock valued at $13,115,000 after purchasing an additional 4,038 shares during the last quarter. Swedbank AB boosted its holdings in shares of Cadence Design Systems by 15.1% in the 3rd quarter. Swedbank AB now owns 1,753,814 shares of the software maker’s stock valued at $475,336,000 after purchasing an additional 230,672 shares during the last quarter. Venture Visionary Partners LLC boosted its holdings in shares of Cadence Design Systems by 2.5% in the 3rd quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker’s stock valued at $463,000 after purchasing an additional 41 shares during the last quarter. Kessler Investment Group LLC boosted its holdings in shares of Cadence Design Systems by 18.4% in the 3rd quarter. Kessler Investment Group LLC now owns 10,514 shares of the software maker’s stock valued at $2,850,000 after purchasing an additional 1,637 shares during the last quarter. Finally, Dock Street Asset Management Inc. lifted its holdings in shares of Cadence Design Systems by 1.2% during the 3rd quarter. Dock Street Asset Management Inc. now owns 71,898 shares of the software maker’s stock valued at $19,487,000 after acquiring an additional 869 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Cadence Design Systems Stock Performance

Shares of CDNS stock opened at $300.43 on Wednesday. The company’s fifty day moving average price is $303.01 and its two-hundred day moving average price is $286.80. The firm has a market capitalization of $82.40 billion, a P/E ratio of 78.85, a P/E/G ratio of 3.50 and a beta of 1.03. Cadence Design Systems, Inc. has a 12 month low of $241.29 and a 12 month high of $328.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27.

Cadence Design Systems (NASDAQ:CDNS) last released its earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.33). Cadence Design Systems had a return on equity of 28.49% and a net margin of 23.87%. On average, research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Insider Transactions at Cadence Design Systems

In related news, VP Paul Scannell sold 3,171 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $305.78, for a total transaction of $969,628.38. Following the completion of the sale, the vice president now owns 14,318 shares of the company’s stock, valued at $4,378,158.04. This represents a 18.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $292.32, for a total transaction of $190,008.00. Following the sale, the vice president now directly owns 58,773 shares of the company’s stock, valued at approximately $17,180,523.36. This represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,416 shares of company stock valued at $33,538,875. Insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CDNS. Wells Fargo & Company began coverage on shares of Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 target price on the stock. StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Redburn Atlantic began coverage on shares of Cadence Design Systems in a report on Monday, January 13th. They set a “buy” rating and a $350.00 target price on the stock. Loop Capital began coverage on shares of Cadence Design Systems in a report on Monday, November 11th. They set a “buy” rating and a $360.00 target price on the stock. Finally, Needham & Company LLC reduced their target price on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and an average target price of $326.08.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide. The company offers functional verification services, including emulation and prototyping hardware. Its functional verification offering consists of JasperGold, a formal verification platform; Xcelium, a parallel logic simulation platform; Palladium, an enterprise emulation platform; and Protium, a prototyping platform for chip verification.