2 weeks Ago By ABMN Staff
HBK Sorce Advisory LLC bought a new stake in shares of Cadence Design Systems, Inc. ( NASDAQ:CDNS – Free Report ) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,074 shares of the software maker’s stock, valued at approximately $331,000.
Several other institutional investors also recently bought and sold shares of CDNS. Norges Bank bought a new position in Cadence Design Systems during the fourth quarter valued at about $1,141,059,000. Swedbank AB bought a new position in Cadence Design Systems during the first quarter valued at about $439,988,000.
Principal Financial Group Inc. raised its holdings in Cadence Design Systems by 280.1% during the second quarter.
Principal Financial Group Inc. now owns 1,519,661 shares of the software maker’s stock valued at $467,676,000 after buying an additional 1,119,824 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Cadence Design Systems by 58.
1% in the first quarter. BNP Paribas Financial Markets now owns 1,273,678 shares of the software maker’s stock worth $396,470,000 after purchasing an additional 468,195 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Cadence Design Systems by 6.
9% during the 1st quarter. Jennison Associates LLC now owns 7,085,526 shares of the software maker’s stock worth $2,205,582,000 after purchasing an additional 459,603 shares during the last quarter. 84.
85% of the stock is currently owned by institutional investors. Cadence Design Systems Stock Performance NASDAQ:CDNS opened at $268.72 on Monday.
The firm has a market capitalization of $73.58 billion, a PE ratio of 69.98, a price-to-earnings-growth ratio of 3.
19 and a beta of 1.02. The company has a quick ratio of 1.
32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23.
Cadence Design Systems, Inc. has a 12-month low of $227.05 and a 12-month high of $328.
99. The firm has a 50-day moving average price of $273.76 and a 200 day moving average price of $291.
51. Insider Buying and Selling at Cadence Design Systems In other news, CFO John M. Wall sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 28th.
The shares were sold at an average price of $265.91, for a total value of $2,659,100.00.
Following the sale, the chief financial officer now owns 38,654 shares of the company’s stock, valued at approximately $10,278,485.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website .
In other news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $314.57, for a total transaction of $471,855.
00. Following the completion of the sale, the director now owns 46,551 shares of the company’s stock, valued at $14,643,548.07.
The transaction was disclosed in a document filed with the SEC, which is accessible through this link . Also, CFO John M. Wall sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th.
The stock was sold at an average price of $265.91, for a total value of $2,659,100.00.
Following the completion of the transaction, the chief financial officer now directly owns 38,654 shares in the company, valued at $10,278,485.14. The disclosure for this sale can be found here .
Over the last three months, insiders sold 36,113 shares of company stock valued at $10,237,521. 1.99% of the stock is currently owned by company insiders.
Analysts Set New Price Targets A number of analysts have issued reports on CDNS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 23rd.
Robert W. Baird cut their target price on shares of Cadence Design Systems from $341.00 to $338.
00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target on the stock in a research report on Tuesday, August 6th.
Bank of America boosted their price objective on shares of Cadence Design Systems from $330.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, May 30th.
Finally, KeyCorp increased their target price on shares of Cadence Design Systems from $350.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th.
Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $334.56.
Get Our Latest Stock Analysis on Cadence Design Systems Cadence Design Systems Company 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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