Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lessened its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.7% in the 3rd quarter, Holdings Channel reports. The firm owned 8,209 shares of the software maker’s stock after selling 317 shares during the period. Highland Capital Management LLC’s holdings in Cadence Design Systems were worth $2,225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RiverPark Advisors LLC acquired a new stake in shares of Cadence Design Systems in the first quarter valued at $26,000. ORG Partners LLC increased its stake in Cadence Design Systems by 911.1% during the second quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after purchasing an additional 82 shares during the period. Annapolis Financial Services LLC acquired a new stake in shares of Cadence Design Systems during the first quarter worth about $32,000. Hollencrest Capital Management boosted its stake in shares of Cadence Design Systems by 637.5% in the first quarter. Hollencrest Capital Management now owns 118 shares of the software maker’s stock valued at $37,000 after purchasing an additional 102 shares during the period. Finally, Chilton Capital Management LLC grew its holdings in shares of Cadence Design Systems by 244.0% in the second quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.

Insider Transactions at Cadence Design Systems

In related news, CFO John M. Wall sold 10,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 38,654 shares in the company, valued at $10,278,485.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $276.24, for a total value of $414,360.00. Following the transaction, the director now owns 45,051 shares in the company, valued at $12,444,888.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO John M. Wall sold 10,000 shares of the 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 sale, the chief financial officer now directly owns 38,654 shares of the company’s stock, valued at $10,278,485.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,347 shares of company stock worth $7,728,272. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 2.4 %

NASDAQ:CDNS opened at $257.30 on Friday. The company has a market capitalization of $70.45 billion, a PE ratio of 66.49, a P/E/G ratio of 3.03 and a beta of 1.02. Cadence Design Systems, Inc. has a 52-week low of $228.66 and a 52-week high of $328.99. The stock’s 50 day moving average price is $267.42 and its 200 day moving average price is $282.69. The company has a quick ratio of 1.32, a current ratio of 1.43 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Berenberg Bank initiated coverage on shares of Cadence Design Systems in a research report on Tuesday, October 15th. They issued a “buy” rating and a $320.00 price target for the company. Rosenblatt Securities reiterated a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a report on Monday, October 7th. Robert W. Baird decreased their price objective on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $320.00 target price on shares of Cadence Design Systems in a report on Tuesday, July 23rd. Finally, Piper Sandler raised Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target for the company in a report on Tuesday, August 6th. One research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $323.42.

Cadence Design Systems Company Profile

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.