Principal Financial Group Inc. Has $691.78 Million Stock Holdings in Cadence Design Systems, Inc. $CDNS

Key Points

• Principal Financial Group trimmed its stake in Cadence by 3.9% to 2,213,103 shares, a position worth about $691.78 million (≈0.81% of the company) at quarter-end.
• CFO John M. Wall sold 21,500 shares under a Rule 10b5‑1 plan for roughly $6.65 million, and insiders sold a total of 23,680 shares (~$7.28 million) over the last quarter.
• Cadence beat estimates (EPS $1.96 vs. $1.91; revenue $1.47B, +18.6% YoY), set FY26 guidance of 7.85–7.95 EPS, and analysts have been raising price targets—the consensus is a "Moderate Buy" with an average target of $380.59.

Principal Financial Group Inc. cut its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,213,103 shares of the software maker's stock after selling 88,678 shares during the quarter. Principal Financial Group Inc. owned about 0.81% of Cadence Design Systems worth $691,778,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CDNS. Brighton Jones LLC lifted its stake 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 valued at $456,000 after acquiring an additional 676 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Cadence Design Systems by 3.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,203 shares of the software maker's stock valued at $560,000 after purchasing an additional 80 shares during the period. Thompson Davis & CO. Inc. bought a new position in shares of Cadence Design Systems in the second quarter valued at approximately $205,000. NewEdge Advisors LLC raised its position in shares of Cadence Design Systems by 39.3% in the second quarter. NewEdge Advisors LLC now owns 34,787 shares of the software maker's stock valued at $10,720,000 after purchasing an additional 9,807 shares during the period. Finally, Glenview Trust co bought a new position in shares of Cadence Design Systems in the second quarter valued at approximately $226,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO John M. Wall sold 21,500 shares of the business's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $309.45, for a total transaction of $6,653,175.00. Following the transaction, the chief financial officer owned 86,875 shares of the company's stock, valued at approximately $26,883,468.75. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $295.03, for a total transaction of $53,105.40. Following the transaction, the director directly owned 7,470 shares in the company, valued at $2,203,874.10. This trade represents a 2.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 23,680 shares of company stock valued at $7,284,250. 0.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDNS. Citigroup lifted 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 report on Wednesday, April 29th. Wells Fargo & Company lifted their price target on shares of Cadence Design Systems from $375.00 to $400.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Rosenblatt Securities reissued a "buy" rating and issued a $360.00 price target on shares of Cadence Design Systems in a research report on Friday, April 24th. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Cadence Design Systems in a research report on Tuesday, April 28th. Finally, Robert W. Baird lifted their price target on shares of Cadence Design Systems from $381.00 to $385.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $380.59.

Cadence Design Systems Trading Up 2.5%

Shares of CDNS stock opened at $349.51 on Tuesday. Cadence Design Systems, Inc. has a 1 year low of $262.75 and a 1 year high of $376.45. The firm's fifty day simple moving average is $296.48 and its 200 day simple moving average is $309.06. The firm has a market capitalization of $96.50 billion, a P/E ratio of 81.47, a price-to-earnings-growth ratio of 4.04 and a beta of 1.13. The company has a current ratio of 1.47, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last announced its earnings results on Monday, April 27th. The software maker reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.05. Cadence Design Systems had a net margin of 21.18% and a return on equity of 28.44%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $1.57 earnings per share. Cadence Design Systems's revenue was up 18.6% compared to the same quarter last year. 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 6.22 EPS for the current year.

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.

Want to see what other hedge funds are holding CDNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.