Paul Cunningham Sells 650 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) Stock

Cadence Design Systems, Inc. (NASDAQ:CDNS) VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $292.32, for a total value of $190,008.00. Following the sale, the vice president now owns 58,773 shares in the company, valued at $17,180,523.36. This trade represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Paul Cunningham also recently made the following trade(s):

• On Thursday, January 2nd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The stock was sold at an average price of $304.84, for a total value of $198,146.00.
• On Monday, December 2nd, Paul Cunningham sold 650 shares of Cadence Design Systems stock. The shares were sold at an average price of $306.19, for a total transaction of $199,023.50.

Cadence Design Systems Price Performance

Shares of NASDAQ:CDNS opened at $302.91 on Friday. Cadence Design Systems, Inc. has a 12 month low of $241.29 and a 12 month high of $328.99. The company has a current ratio of 2.45, a quick ratio of 2.27 and a debt-to-equity ratio of 0.54. The stock has a market cap of $83.08 billion, a P/E ratio of 79.50, a P/E/G ratio of 3.42 and a beta of 1.03. The company has a 50 day moving average of $304.77 and a 200 day moving average of $284.80.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Czech National Bank grew its position in Cadence Design Systems by 7.6% during the third quarter. Czech National Bank now owns 55,780 shares of the software maker’s stock worth $15,118,000 after buying an additional 3,923 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Cadence Design Systems by 23.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,119 shares of the software maker’s stock valued at $845,000 after acquiring an additional 587 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Cadence Design Systems by 242.1% during the third quarter. Diversified Trust Co now owns 11,181 shares of the software maker’s stock worth $3,030,000 after purchasing an additional 7,913 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Cadence Design Systems by 21.6% in the third quarter. Miracle Mile Advisors LLC now owns 5,595 shares of the software maker’s stock worth $1,516,000 after purchasing an additional 993 shares during the last quarter. Finally, Chesley Taft & Associates LLC purchased a new stake in Cadence Design Systems in the third quarter valued at approximately $760,000. Institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CDNS. Redburn Atlantic initiated coverage on shares of Cadence Design Systems in a research report on Monday, January 13th. They set a “buy” rating and a $350.00 target price for the company. Wells Fargo & Company started coverage on Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price objective for the company. Needham & Company LLC lowered their target price on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. Loop Capital began coverage on Cadence Design Systems in a research note on Monday, November 11th. They set a “buy” rating and a $360.00 price target for the company. Finally, Robert W. Baird boosted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $329.50.

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.