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

Atria Investments Inc lessened its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

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

Insider Buying and Selling at Cadence Design Systems

In other news, CFO John M. Wall sold 10,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $265.91, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 completion of the sale, the chief financial officer now owns 38,654 shares of the company’s stock, valued at approximately $10,278,485.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Karna Nisewaner sold 1,213 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 17,617 shares of the company’s stock, valued at $4,923,775.33. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,847 shares of company stock worth $4,556,656. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Up 2.9 %

CDNS stock opened at $306.47 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The stock has a market capitalization of $84.05 billion, a P/E ratio of 80.46, a P/E/G ratio of 3.64 and a beta of 1.02. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99. The business has a 50-day moving average of $271.56 and a 200-day moving average of $282.41.

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

Analyst Ratings Changes

CDNS has been the subject of a number of recent analyst reports. Needham & Company LLC dropped their price objective on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research note on Tuesday, October 29th. 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. Oppenheimer assumed coverage on shares of Cadence Design Systems in a research note on Wednesday, September 25th. They issued an “underperform” rating and a $225.00 target price for the company. Finally, Robert W. Baird increased their target price on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $326.00.

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.