Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Sells $190,008.00 in Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $292.32, for a total value of $190,008.00. Following the completion of the sale, the vice president now directly owns 58,773 shares of the company’s stock, valued at $17,180,523.36. The trade was a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Paul Cunningham also recently made the following trade(s):

• On Thursday, January 2nd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $304.84, for a total transaction of $198,146.00.
• On Monday, December 2nd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $306.19, for a total transaction of $199,023.50.

Cadence Design Systems Stock Down 1.1 %

CDNS stock opened at $299.68 on Friday. The firm has a market cap of $82.19 billion, a PE ratio of 78.66, a P/E/G ratio of 3.42 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. The firm has a 50 day simple moving average of $304.73 and a 200 day simple moving average of $284.93.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Rosenblatt Securities restated a “neutral” rating and set a $280.00 price objective on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Robert W. Baird upped their price objective on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Mizuho raised their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. StockNews.com cut Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Wells Fargo & Company began coverage on Cadence Design Systems in a research report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $329.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CDNS. Sequoia Financial Advisors LLC grew its holdings in shares of Cadence Design Systems by 40.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,976 shares of the software maker’s stock valued at $1,495,000 after acquiring an additional 1,438 shares in the last quarter. HighTower Advisors LLC grew its stake in Cadence Design Systems by 23.3% in the fourth quarter. HighTower Advisors LLC now owns 51,673 shares of the software maker’s stock valued at $15,526,000 after purchasing an additional 9,757 shares in the last quarter. Donaldson Capital Management LLC increased its position in Cadence Design Systems by 1.6% in the 4th quarter. Donaldson Capital Management LLC now owns 14,104 shares of the software maker’s stock worth $4,238,000 after purchasing an additional 218 shares during the last quarter. Miller Financial Services LLC purchased a new stake in shares of Cadence Design Systems during the 4th quarter worth about $696,000. Finally, King Luther Capital Management Corp lifted its holdings in shares of Cadence Design Systems by 10.6% during the 4th quarter. King Luther Capital Management Corp now owns 143,498 shares of the software maker’s stock valued at $43,115,000 after buying an additional 13,731 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

About Cadence Design Systems

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.