Values First Advisors Inc. Grows Position in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Values First Advisors Inc. increased its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 349.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,878 shares of the software maker's stock after acquiring an additional 2,237 shares during the quarter. Values First Advisors Inc.'s holdings in Cadence Design Systems were worth $865,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CDNS. Golden State Wealth Management LLC bought a new stake in Cadence Design Systems during the fourth quarter valued at about $28,000. Missouri Trust & Investment Co bought a new stake in shares of Cadence Design Systems in the 3rd quarter valued at about $27,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Cadence Design Systems in the 3rd quarter worth approximately $28,000. Versant Capital Management Inc raised its stake in shares of Cadence Design Systems by 164.2% during the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker's stock worth $42,000 after acquiring an additional 87 shares in the last quarter. Finally, Prestige Wealth Management Group LLC lifted its position in Cadence Design Systems by 56.6% during the third quarter. Prestige Wealth Management Group LLC now owns 166 shares of the software maker's stock valued at $45,000 after acquiring an additional 60 shares during the last quarter. 84.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $292.32, for a total transaction of $190,008.00. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anirudh Devgan sold 5,920 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the completion of the sale, the chief executive officer now directly owns 55,874 shares of the company's stock, valued at approximately $16,987,930.96. The trade was a 9.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,416 shares of company stock valued at $33,538,875. Corporate insiders own 1.99% of the company's stock.

Cadence Design Systems Stock Performance

Cadence Design Systems stock traded down $9.82 during midday trading on Wednesday, hitting $294.05. 1,091,494 shares of the company were exchanged, compared to its average volume of 1,466,853. Cadence Design Systems, Inc. has a fifty-two week low of $241.29 and a fifty-two week high of $328.99. The firm has a market capitalization of $80.65 billion, a PE ratio of 77.18, a price-to-earnings-growth ratio of 3.50 and a beta of 1.03. The business has a fifty day simple moving average of $304.31 and a two-hundred day simple moving average of $285.81. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.27 and a current ratio of 2.45.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com lowered Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Robert W. Baird boosted their price target on Cadence Design Systems from $332.00 to $340.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Loop Capital started coverage on shares of Cadence Design Systems in a research report on Monday, November 11th. They issued a "buy" rating and a $360.00 price objective for the company. Needham & Company LLC lowered their target price on shares of 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. Finally, Mizuho upped their price target on shares of Cadence Design Systems from $325.00 to $350.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Cadence Design Systems presently has a consensus 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.