Atria Investments Inc Has $3.38 Million Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Atria Investments Inc decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,482 shares of the software maker’s stock after selling 2,659 shares during the quarter. Atria Investments Inc’s holdings in Cadence Design Systems were worth $3,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CDNS. ORG Partners LLC lifted its stake in shares of Cadence Design Systems by 911.1% during the 2nd quarter. ORG Partners LLC now owns 91 shares of the software maker’s stock worth $28,000 after buying an additional 82 shares during the last quarter. Chilton Capital Management LLC grew its stake in Cadence Design Systems by 244.0% in the 2nd quarter. Chilton Capital Management LLC now owns 172 shares of the software maker’s stock valued at $53,000 after buying an additional 122 shares during the last quarter. Larson Financial Group LLC lifted its position in Cadence Design Systems by 159.7% during the second quarter. Larson Financial Group LLC now owns 200 shares of the software maker’s stock worth $62,000 after acquiring an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Cadence Design Systems during the second quarter worth approximately $69,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Cadence Design Systems in the second quarter valued at approximately $77,000. 84.85% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Karna Nisewaner sold 1,213 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $279.49, for a total transaction of $339,021.37. Following the sale, the senior vice president now owns 17,617 shares in the company, valued at $4,923,775.33. 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 this hyperlink. In related news, SVP Karna Nisewaner sold 1,213 shares of Cadence Design Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $279.49, for a total transaction of $339,021.37. Following the sale, the senior vice president now directly owns 17,617 shares in the company, valued at $4,923,775.33. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Cunningham sold 650 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $276.00, for a total transaction of $179,400.00. Following the completion of the transaction, the vice president now owns 61,111 shares of the company’s stock, valued at approximately $16,866,636. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,847 shares of company stock worth $4,556,656. Insiders own 1.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CDNS shares. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 29th. Robert W. Baird boosted their target price on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Loop Capital assumed coverage on shares of Cadence Design Systems in a research report on Monday. They set a “buy” rating and a $360.00 price target on the stock. Mizuho started coverage on shares of Cadence Design Systems in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 price objective for the company. Finally, Piper Sandler upgraded shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price target for the company in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $326.00.

Cadence Design Systems Stock Performance

Cadence Design Systems stock opened at $306.47 on Thursday. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54. The stock has a market cap of $84.05 billion, a PE ratio of 80.46, a P/E/G ratio of 3.64 and a beta of 1.02. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The business’s 50-day moving average price is $271.56 and its two-hundred day moving average price is $282.41.

Cadence Design Systems (NASDAQ:CDNS) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The firm’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. As a group, analysts expect that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current fiscal year.

Cadence Design Systems 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.