Atria Wealth Solutions Inc. Sells 13,288 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Atria Wealth Solutions Inc. significantly reduced its holdings in Cadence Design Systems by 48.7% during Q2, selling 13,288 shares and retaining 14,013 shares worth approximately $4.3 million.
• Several institutional investors have made significant changes to their positions in Cadence Design Systems, with Nuveen LLC acquiring a new position worth nearly $290 million and Assenagon Asset Management increasing its stake by 466.4%.
• Cadence Design Systems reported earnings of $1.65 per share for the last quarter, outperforming analysts' expectations and projecting future earnings for FY 2025 between $6.850 and $6.950.

Atria Wealth Solutions Inc. cut its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 48.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,013 shares of the software maker's stock after selling 13,288 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Cadence Design Systems were worth $4,318,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CDNS. Nuveen LLC acquired a new position in shares of Cadence Design Systems during the 1st quarter worth about $289,744,000. Jennison Associates LLC increased its stake in shares of Cadence Design Systems by 13.2% during the 1st quarter. Jennison Associates LLC now owns 9,064,953 shares of the software maker's stock worth $2,305,489,000 after purchasing an additional 1,054,702 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Cadence Design Systems by 466.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker's stock worth $242,468,000 after purchasing an additional 647,931 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Cadence Design Systems by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 26,339,142 shares of the software maker's stock worth $6,698,834,000 after purchasing an additional 429,955 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Cadence Design Systems by 7.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,729,026 shares of the software maker's stock worth $1,202,733,000 after purchasing an additional 312,757 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, VP Paul Cunningham sold 1,000 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $348.27, for a total value of $348,270.00. Following the completion of the sale, the vice president owned 99,672 shares of the company's stock, valued at $34,712,767.44. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John M. Wall sold 7,500 shares of the business's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $349.16, for a total transaction of $2,618,700.00. Following the completion of the sale, the chief financial officer directly owned 70,715 shares of the company's stock, valued at $24,690,849.40. This represents a 9.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,680 shares of company stock valued at $3,729,852 in the last quarter. Company insiders own 0.37% of the company's stock.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $332.23 on Tuesday. The company has a quick ratio of 2.67, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $90.53 billion, a P/E ratio of 89.79, a P/E/G ratio of 4.29 and a beta of 0.99. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The firm has a 50-day moving average price of $351.02 and a two-hundred day moving average price of $317.83.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Cadence Design Systems had a net margin of 19.88% and a return on equity of 29.65%. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 EPS. Cadence Design Systems has set its Q3 2025 guidance at 1.750-1.810 EPS. FY 2025 guidance at 6.850-6.950 EPS. Analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CDNS. JPMorgan Chase & Co. boosted their price objective on shares of Cadence Design Systems from $330.00 to $390.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. KeyCorp boosted their price objective on shares of Cadence Design Systems from $358.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Wells Fargo & Company upped their price target on shares of Cadence Design Systems from $365.00 to $405.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Rosenblatt Securities reiterated a "neutral" rating and issued a $300.00 price target on shares of Cadence Design Systems in a research note on Friday, July 25th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Cadence Design Systems in a research note on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $368.53.

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.

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