Dakota Wealth Management Purchases 47 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Dakota Wealth Management grew its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,644 shares of the software maker’s stock after buying an additional 47 shares during the quarter. Dakota Wealth Management’s holdings in Cadence Design Systems were worth $717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CDNS. Brookstone Capital Management grew its stake in Cadence Design Systems by 15.4% during the first quarter. Brookstone Capital Management now owns 1,037 shares of the software maker’s stock worth $323,000 after buying an additional 138 shares during the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of Cadence Design Systems by 4.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the software maker’s stock valued at $296,000 after purchasing an additional 41 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Cadence Design Systems by 110.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,924 shares of the software maker’s stock valued at $8,692,000 after purchasing an additional 14,644 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Cadence Design Systems by 27.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 3,845 shares of the software maker’s stock valued at $1,197,000 after purchasing an additional 827 shares during the last quarter. Finally, Trilogy Capital Inc. bought a new stake in shares of Cadence Design Systems during the first quarter valued at approximately $400,000. 84.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cadence Design Systems news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total value of $425,490.00. Following the sale, the director now directly owns 42,051 shares in the company, valued at approximately $11,928,186.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $283.66, for a total transaction of $425,490.00. Following the sale, the director now directly owns 42,051 shares in the company, valued at $11,928,186.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John M. Wall sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $265.91, for a total transaction of $2,659,100.00. Following the sale, the chief financial officer now owns 38,654 shares in the company, valued at approximately $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 three months, insiders have sold 28,347 shares of company stock worth $7,728,272. Company insiders own 1.99% of the company’s stock.

Cadence Design Systems Trading Up 2.4 %

CDNS opened at $257.30 on Monday. The firm’s fifty day moving average is $267.42 and its two-hundred day moving average is $282.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.32 and a current ratio of 1.43. The firm has a market cap of $70.09 billion, a PE ratio of 67.01, a price-to-earnings-growth ratio of 3.03 and a beta of 1.02. Cadence Design Systems, Inc. has a twelve month low of $228.66 and a twelve month high of $328.99.

Analyst Ratings Changes

Several research firms have recently commented on CDNS. Berenberg Bank began coverage on shares of Cadence Design Systems in a research note on Tuesday, October 15th. They set a “buy” rating and a $320.00 price target on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $280.00 price target on shares of Cadence Design Systems in a research note on Monday, October 7th. Mizuho initiated coverage on shares of Cadence Design Systems in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $325.00 price objective on the stock. Robert W. Baird reduced their price objective on shares of Cadence Design Systems from $341.00 to $338.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Finally, Piper Sandler raised shares of Cadence Design Systems from a “neutral” rating to an “overweight” rating and set a $318.00 price objective on the stock in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.42.

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.