Baader Bank Aktiengesellschaft Sells 8,248 Shares of Cadence Design Systems, Inc. $CDNS

Key Points

• Baader Bank Aktiengesellschaft reduced its Cadence Design Systems stake by 34.4% in the first quarter, selling 8,248 shares and leaving it with 15,714 shares valued at about $4.37 million.
• Insider selling continued at Cadence, including director sales by Ita M. Brennan and James D. Plummer; insiders sold 157,057 shares worth about $60.3 million over the last quarter.
• Cadence reported solid quarterly results, beating earnings and revenue expectations, while analysts remain mostly bullish with a consensus rating of “Moderate Buy” and an average price target of $393.65.

Baader Bank Aktiengesellschaft cut its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 34.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,714 shares of the software maker's stock after selling 8,248 shares during the period. Baader Bank Aktiengesellschaft's holdings in Cadence Design Systems were worth $4,366,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in Cadence Design Systems in the 4th quarter valued at about $1,352,922,000. J. Stern & Co. LLP boosted its position in shares of Cadence Design Systems by 10,159.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,953,256 shares of the software maker's stock worth $923,129,000 after acquiring an additional 2,924,470 shares in the last quarter. Wellington Management Group LLP increased its stake in Cadence Design Systems by 218.6% in the fourth quarter. Wellington Management Group LLP now owns 2,553,225 shares of the software maker's stock valued at $798,087,000 after acquiring an additional 1,751,927 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Cadence Design Systems by 120.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,124,417 shares of the software maker's stock valued at $351,470,000 after purchasing an additional 615,440 shares in the last quarter. Finally, Scge Management L.P. bought a new stake in Cadence Design Systems during the second quarter worth $187,663,000. 84.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $387.45, for a total value of $69,741.00. Following the completion of the transaction, the director directly owned 8,004 shares in the company, valued at approximately $3,101,149.80. This represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Plummer sold 1,511 shares of Cadence Design Systems stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $381.34, for a total transaction of $576,204.74. Following the transaction, the director owned 23,264 shares in the company, valued at approximately $8,871,493.76. This trade represents a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 157,057 shares of company stock worth $60,272,277 over the last quarter. Insiders own 0.49% of the company's stock.

Cadence Design Systems Trading Down 0.1%

Shares of CDNS stock opened at $329.93 on Tuesday. The firm has a market capitalization of $91.00 billion, a P/E ratio of 76.91, a P/E/G ratio of 3.91 and a beta of 1.15. Cadence Design Systems, Inc. has a twelve month low of $262.75 and a twelve month high of $416.69. The company has a quick ratio of 1.32, a current ratio of 1.47 and a debt-to-equity ratio of 0.38. The stock's fifty day simple moving average is $375.40 and its 200 day simple moving average is $328.75.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its earnings results on Monday, April 27th. The software maker reported $1.96 EPS for the quarter, beating the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. Cadence Design Systems had a return on equity of 28.44% and a net margin of 21.18%.The business's quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the company earned $1.57 earnings per share. Cadence Design Systems has set its FY 2026 guidance at 7.850-7.950 EPS and its Q2 2026 guidance at 2.020-2.080 EPS. As a group, sell-side analysts predict that Cadence Design Systems, Inc. will post 6.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. KeyCorp boosted their price target on Cadence Design Systems from $405.00 to $425.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Benchmark started coverage on Cadence Design Systems in a research report on Wednesday, July 15th. They issued a "buy" rating and a $450.00 target price on the stock. Robert W. Baird boosted their target price on Cadence Design Systems from $381.00 to $385.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Citigroup raised their price target on shares of Cadence Design Systems from $385.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Rosenblatt Securities lifted their price target on shares of Cadence Design Systems from $375.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Cadence Design Systems has an average rating of "Moderate Buy" and a consensus price target of $393.65.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc NASDAQ: CDNS is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company's offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.

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