Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Ausdal Financial Partners Inc.

Ausdal Financial Partners Inc. cut its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,029 shares of the software maker’s stock after selling 96 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in Cadence Design Systems were worth $309,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in Cadence Design Systems by 10.7% during the fourth quarter. Principal Financial Group Inc. now owns 2,237,569 shares of the software maker’s stock worth $672,300,000 after purchasing an additional 216,075 shares in the last quarter. Pittenger & Anderson Inc. grew its stake in Cadence Design Systems by 50.1% in the 4th quarter. Pittenger & Anderson Inc. now owns 5,289 shares of the software maker’s stock valued at $1,589,000 after acquiring an additional 1,766 shares during the last quarter. Meridiem Investment Management Ltd. increased its holdings in Cadence Design Systems by 64.3% during the 4th quarter. Meridiem Investment Management Ltd. now owns 783,906 shares of the software maker’s stock valued at $235,625,000 after acquiring an additional 306,887 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Cadence Design Systems by 132.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 139,288 shares of the software maker’s stock worth $41,850,000 after acquiring an additional 79,268 shares during the last quarter. Finally, Avanza Fonder AB purchased a new stake in shares of Cadence Design Systems in the fourth quarter valued at about $6,046,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $252.73, for a total transaction of $164,274.50. Following the completion of the transaction, the vice president now directly owns 58,123 shares of the company’s stock, valued at approximately $14,689,425.79. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anirudh Devgan sold 93,151 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $310.00, for a total value of $28,876,810.00. Following the transaction, the chief executive officer now directly owns 55,874 shares of the company’s stock, valued at $17,320,940. This represents a 62.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,021 shares of company stock valued at $31,229,155 in the last ninety days. Company insiders own 1.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Loop Capital lowered their target price on Cadence Design Systems from $360.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Piper Sandler lifted their price target on Cadence Design Systems from $318.00 to $328.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Robert W. Baird cut their target price on Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Bank of America reduced their price target on shares of Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, Mizuho upped their target price on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average price target of $324.83.

Cadence Design Systems Trading Down 2.2 %

Shares of NASDAQ CDNS opened at $256.69 on Friday. The stock has a market capitalization of $70.36 billion, a P/E ratio of 66.50, a PEG ratio of 3.88 and a beta of 1.05. The stock’s 50 day moving average price is $274.55 and its two-hundred day moving average price is $284.19. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. Cadence Design Systems, Inc. has a 52-week low of $230.09 and a 52-week high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last posted its earnings results on Tuesday, February 18th. The software maker reported $1.49 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.33). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. On average, analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

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.