Cadence Design Systems (NASDAQ:CDNS) Stock: Insider Paul Cunningham Sells 2,000 Shares

Key Points

• Cadence VP Paul Cunningham sold 2,000 shares at an average price of $324.13, generating $648,260 under a pre-arranged Rule 10b5-1 trading plan. He retained 119,612 shares, worth approximately $38.8 million.
• Cadence shares recently traded at $319.51, with a market capitalization of about $88 billion. The company beat quarterly earnings expectations, reporting $2.11 per share and $1.58 billion in revenue, with revenue up 24.2% year over year.
• Wall Street remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $404.14 versus the reported share price. Institutional investors own approximately 84.85% of the company.

Cadence Design Systems, Inc. (NASDAQ:CDNS - Get Free Report) VP Paul Cunningham sold 2,000 shares of the company's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $324.13, for a total value of $648,260.00. Following the completion of the sale, the vice president directly owned 119,612 shares of the company's stock, valued at approximately $38,769,837.56. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Paul Cunningham also recently made the following trade(s):

• On Tuesday, September 15th, Paul Cunningham sold 2,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $277.12, for a total value of $554,240.00.
• On Monday, August 17th, Paul Cunningham sold 2,000 shares of Cadence Design Systems stock. The stock was sold at an average price of $323.32, for a total value of $646,640.00.

Cadence Design Systems Stock Performance

NASDAQ CDNS traded down $4.87 on Friday, reaching $319.51. The stock had a trading volume of 2,501,447 shares, compared to its average volume of 2,447,830. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.74. Cadence Design Systems, Inc. has a 12-month low of $262.75 and a 12-month high of $416.69. The business's 50-day moving average price is $319.25 and its 200 day moving average price is $338.97. The stock has a market cap of $87.99 billion, a P/E ratio of 63.52, a price-to-earnings-growth ratio of 3.52 and a beta of 1.13.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%. The company's revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 earnings per share. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. As a group, equities analysts expect that Cadence Design Systems, Inc. will post 6.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CDNS. Citigroup upped their target price on shares of Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Rosenblatt Securities raised their price target on Cadence Design Systems from $410.00 to $420.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. BNP Paribas Exane boosted their price target on Cadence Design Systems from $400.00 to $450.00 and gave the company an "outperform" rating in a research report on Thursday, June 18th. FBN Securities began coverage on Cadence Design Systems in a research report on Friday, September 11th. They issued an "outperform" rating and a $375.00 price target on the stock. Finally, Oppenheimer reaffirmed a "market perform" rating and set a $300.00 price objective (up from $275.00) on shares of Cadence Design Systems in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $404.14.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Mosley Wealth Management boosted its stake in shares of Cadence Design Systems by 53.9% in the third quarter. Mosley Wealth Management now owns 177 shares of the software maker's stock valued at $57,000 after buying an additional 62 shares in the last quarter. Parisi Gray Wealth Management lifted its holdings in Cadence Design Systems by 4.8% in the third quarter. Parisi Gray Wealth Management now owns 980 shares of the software maker's stock valued at $323,000 after acquiring an additional 45 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in Cadence Design Systems by 979.8% in the third quarter. TD Waterhouse Canada Inc. now owns 74,315 shares of the software maker's stock valued at $24,538,000 after acquiring an additional 67,433 shares during the period. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Cadence Design Systems during the 3rd quarter worth $213,000. Finally, Goelzer Investment Management Inc. purchased a new stake in shares of Cadence Design Systems during the 3rd quarter worth $1,342,000. 84.85% of the stock is owned by hedge funds and other institutional investors.

About Cadence Design Systems

Cadence Design Systems, Inc is a technology company that develops electronic design automation (EDA) software, hardware, and semiconductor intellectual property. Its products help engineers design, verify, analyze, and manufacture complex semiconductor chips, printed circuit boards, and electronic systems.

The company's offerings include digital and custom/analog integrated-circuit design tools, functional verification and emulation platforms, semiconductor intellectual property, and system analysis solutions.

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.