Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC lowered its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 66.8% in the fourth quarter, Holdings Channel reports. The firm owned 166 shares of the software maker’s stock after selling 334 shares during the quarter. Larson Financial Group LLC’s holdings in Cadence Design Systems were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in Cadence Design Systems by 10.7% during the 4th quarter. Principal Financial Group Inc. now owns 2,237,569 shares of the software maker’s stock worth $672,300,000 after buying an additional 216,075 shares during the last quarter. Pittenger & Anderson Inc. increased its holdings in shares of Cadence Design Systems by 50.1% in the 4th quarter. Pittenger & Anderson Inc. now owns 5,289 shares of the software maker’s stock valued at $1,589,000 after purchasing an additional 1,766 shares in the last quarter. Meridiem Investment Management Ltd. increased its holdings in shares of Cadence Design Systems by 64.3% in the 4th quarter. Meridiem Investment Management Ltd. now owns 783,906 shares of the software maker’s stock valued at $235,625,000 after purchasing an additional 306,887 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Cadence Design Systems by 132.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 139,288 shares of the software maker’s stock valued at $41,850,000 after purchasing an additional 79,268 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Cadence Design Systems by 48.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 952,427 shares of the software maker’s stock valued at $258,136,000 after purchasing an additional 310,250 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Needham & Company LLC restated a “buy” rating and set a $325.00 target price on shares of Cadence Design Systems in a report on Wednesday, February 19th. Wells Fargo & Company assumed coverage on shares of Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 target price for the company. Rosenblatt Securities raised their price target on shares of Cadence Design Systems from $280.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird decreased their price target on shares of Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.92.

Cadence Design Systems Trading Up 2.1 %

CDNS opened at $239.22 on Thursday. The firm has a market capitalization of $65.57 billion, a P/E ratio of 61.97, a P/E/G ratio of 3.88 and a beta of 1.05. The firm’s 50 day moving average is $284.77 and its 200-day moving average is $284.56. Cadence Design Systems, Inc. has a 52-week low of $230.09 and a 52-week high of $328.99. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. Analysts expect that Cadence Design Systems, Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anirudh Devgan sold 5,920 shares of Cadence Design Systems stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total value of $1,799,916.80. Following the completion of the sale, the chief executive officer now owns 55,874 shares in the company, valued at approximately $16,987,930.96. The trade was a 9.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Paul Scannell sold 3,171 shares of Cadence Design Systems stock in a transaction on Friday, December 13th. The stock was sold at an average price of $305.78, for a total transaction of $969,628.38. Following the completion of the sale, the vice president now owns 14,318 shares of the company’s stock, valued at approximately $4,378,158.04. This trade represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,416 shares of company stock worth $33,504,126. Insiders own 0.62% of the company’s stock.

About Cadence Design Systems

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.