Insider Selling: Cadence Design Systems, Inc. (NASDAQ:CDNS) Director Sells 1,500 Shares of Stock

Cadence Design Systems, Inc. (NASDAQ:CDNSGet Free Report) Director Vincentelli Albert Sangiovanni sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $299.42, for a total transaction of $449,130.00. Following the transaction, the director now directly owns 53,183 shares in the company, valued at $15,924,053.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Vincentelli Albert Sangiovanni also recently made the following trade(s):

  • On Wednesday, January 24th, Vincentelli Albert Sangiovanni sold 4,500 shares of Cadence Design Systems stock. The shares were sold at an average price of $300.00, for a total transaction of $1,350,000.00.
  • On Friday, January 12th, Vincentelli Albert Sangiovanni sold 11,500 shares of Cadence Design Systems stock. The shares were sold at an average price of $267.67, for a total transaction of $3,078,205.00.
  • On Tuesday, December 19th, Vincentelli Albert Sangiovanni sold 6,000 shares of Cadence Design Systems stock. The shares were sold at an average price of $275.00, for a total value of $1,650,000.00.

Cadence Design Systems Stock Up 2.2 %

Shares of NASDAQ CDNS opened at $307.36 on Friday. Cadence Design Systems, Inc. has a 12 month low of $183.42 and a 12 month high of $308.19. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $276.43 and a two-hundred day simple moving average of $254.15. The firm has a market capitalization of $83.62 billion, a PE ratio of 87.57, a price-to-earnings-growth ratio of 3.65 and a beta of 1.07.

Hedge Funds Weigh In On Cadence Design Systems

Large investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Cadence Design Systems in the fourth quarter worth $770,945,000. Alliancebernstein L.P. boosted its position in shares of Cadence Design Systems by 620.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,954,303 shares of the software maker’s stock valued at $474,579,000 after buying an additional 2,543,966 shares during the last quarter. Jennison Associates LLC raised its position in Cadence Design Systems by 33.8% in the 2nd quarter. Jennison Associates LLC now owns 6,483,146 shares of the software maker’s stock worth $1,520,427,000 after buying an additional 1,637,860 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in Cadence Design Systems during the 4th quarter valued at about $227,854,000. Finally, Nordea Investment Management AB boosted its holdings in shares of Cadence Design Systems by 124.8% during the 4th quarter. Nordea Investment Management AB now owns 1,895,230 shares of the software maker’s stock valued at $515,995,000 after acquiring an additional 1,052,228 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CDNS. Rosenblatt Securities lifted their target price on Cadence Design Systems from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $268.00 target price on shares of Cadence Design Systems in a report on Tuesday, October 24th. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Wednesday. KeyCorp upped their price target on shares of Cadence Design Systems from $290.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company lifted their price objective on Cadence Design Systems from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.22.

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Cadence Design Systems Company Profile

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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.

Further Reading

Insider Buying and Selling by Quarter for Cadence Design Systems (NASDAQ:CDNS)

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