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Baader Bank Aktiengesellschaft Sells 5,766 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Cadence Design Systems logo with Computer and Technology background

Baader Bank Aktiengesellschaft trimmed its position in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 18.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,299 shares of the software maker's stock after selling 5,766 shares during the period. Baader Bank Aktiengesellschaft's holdings in Cadence Design Systems were worth $6,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC increased its position in Cadence Design Systems by 80.2% in the fourth quarter. Brighton Jones LLC now owns 1,519 shares of the software maker's stock worth $456,000 after buying an additional 676 shares in the last quarter. Highview Capital Management LLC DE raised its stake in Cadence Design Systems by 2.7% during the 4th quarter. Highview Capital Management LLC DE now owns 6,304 shares of the software maker's stock worth $1,894,000 after acquiring an additional 163 shares during the period. Blair William & Co. IL lifted its holdings in Cadence Design Systems by 14.0% during the fourth quarter. Blair William & Co. IL now owns 5,181 shares of the software maker's stock valued at $1,557,000 after purchasing an additional 636 shares in the last quarter. Level Four Advisory Services LLC purchased a new position in Cadence Design Systems during the fourth quarter valued at approximately $364,000. Finally, Allianz SE purchased a new stake in shares of Cadence Design Systems in the fourth quarter worth $217,000. Hedge funds and other institutional investors own 84.85% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CDNS shares. Piper Sandler reaffirmed a "neutral" rating and issued a $355.00 target price (up previously from $328.00) on shares of Cadence Design Systems in a report on Tuesday. Wall Street Zen lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Needham & Company LLC reissued a "buy" rating and set a $390.00 target price (up previously from $325.00) on shares of Cadence Design Systems in a research note on Tuesday. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $340.00 to $380.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Bank of America increased their price objective on shares of Cadence Design Systems from $320.00 to $350.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $364.33.

Read Our Latest Stock Report on Cadence Design Systems

Cadence Design Systems Trading Down 2.1%

CDNS traded down $7.60 during trading on Friday, reaching $356.97. The company had a trading volume of 2,070,008 shares, compared to its average volume of 1,879,031. The company has a quick ratio of 2.90, a current ratio of 2.82 and a debt-to-equity ratio of 0.49. The business has a 50 day simple moving average of $313.43 and a 200-day simple moving average of $290.80. The stock has a market cap of $97.47 billion, a P/E ratio of 96.48, a PEG ratio of 4.78 and a beta of 0.99. Cadence Design Systems, Inc. has a 52 week low of $221.56 and a 52 week high of $376.45.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, July 28th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.09. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates 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 was up 20.2% on a year-over-year basis. During the same quarter last year, the business earned $1.28 EPS. On average, equities analysts anticipate that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Transactions at Cadence Design Systems

In related news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $304.00, for a total transaction of $54,720.00. Following the completion of the transaction, the director owned 8,010 shares in the company, valued at $2,435,040. The trade was a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James D. Plummer sold 868 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $319.95, for a total value of $277,716.60. Following the completion of the sale, the director owned 23,996 shares in the company, valued at approximately $7,677,520.20. The trade was a 3.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,698 shares of company stock worth $1,126,667. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Profile

(Free Report)

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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Institutional Ownership by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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