Atria Investments Inc Sells 2,659 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Atria Investments Inc reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 17.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,482 shares of the software maker's stock after selling 2,659 shares during the period. Atria Investments Inc's holdings in Cadence Design Systems were worth $3,383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Capital Market Strategies LLC lifted its position in shares of Cadence Design Systems by 3.1% during the second quarter. Capital Market Strategies LLC now owns 1,300 shares of the software maker's stock worth $400,000 after purchasing an additional 39 shares in the last quarter. Dudley Capital Management LLC grew its stake in shares of Cadence Design Systems by 4.3% during the third quarter. Dudley Capital Management LLC now owns 948 shares of the software maker's stock worth $257,000 after purchasing an additional 39 shares during the period. Trust Point Inc. increased its holdings in Cadence Design Systems by 2.9% in the third quarter. Trust Point Inc. now owns 1,397 shares of the software maker's stock valued at $379,000 after purchasing an additional 40 shares during the last quarter. Falcon Wealth Planning lifted its stake in Cadence Design Systems by 5.1% in the third quarter. Falcon Wealth Planning now owns 819 shares of the software maker's stock valued at $222,000 after buying an additional 40 shares during the period. Finally, Venture Visionary Partners LLC boosted its stake in Cadence Design Systems by 2.5% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker's stock worth $463,000 after acquiring an additional 41 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cadence Design Systems

In related news, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company's stock in a transaction that occurred 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 approximately $11,928,186.66. This represents a 3.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO John M. Wall sold 10,000 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now owns 38,654 shares of the company's stock, valued at $10,278,485.14. This trade represents a 20.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,847 shares of company stock valued at $4,556,656. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Trading Down 1.1 %

NASDAQ:CDNS traded down $3.43 during mid-day trading on Thursday, hitting $303.04. 1,612,456 shares of the company's stock were exchanged, compared to its average volume of 1,775,744. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week 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 firm has a market capitalization of $83.11 billion, a P/E ratio of 78.81, a PEG ratio of 3.64 and a beta of 1.02. The company has a 50 day simple moving average of $272.61 and a 200-day simple moving average of $282.58.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its earnings results on Monday, October 28th. The software maker reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.20. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The business 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 company's revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, research analysts expect that Cadence Design Systems, Inc. will post 4.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDNS. Robert W. Baird lifted their price objective on Cadence Design Systems from $332.00 to $340.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Needham & Company LLC decreased their price target on Cadence Design Systems from $320.00 to $315.00 and set a "buy" rating for the company in a research note on Tuesday, October 29th. Oppenheimer assumed coverage on Cadence Design Systems in a research report on Wednesday, September 25th. They set an "underperform" rating and a $225.00 price target on the stock. Loop Capital started coverage on Cadence Design Systems in a report on Monday. They set a "buy" rating and a $360.00 price target for the company. Finally, Mizuho assumed coverage on shares of Cadence Design Systems in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $325.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $326.00.

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.