Jump Financial LLC Sells 9,961 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Jump Financial LLC reduced its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 87.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,464 shares of the software maker's stock after selling 9,961 shares during the quarter. Jump Financial LLC's holdings in Cadence Design Systems were worth $440,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of Cadence Design Systems during the 4th quarter valued at about $28,000. Avalon Trust Co bought a new stake in shares of Cadence Design Systems in the 4th quarter valued at approximately $39,000. Versant Capital Management Inc raised its holdings in shares of Cadence Design Systems by 164.2% in the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker's stock worth $42,000 after buying an additional 87 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Cadence Design Systems during the 4th quarter worth approximately $46,000. Finally, Synergy Investment Management LLC bought a new stake in Cadence Design Systems in the fourth quarter valued at $50,000. 84.85% of the stock is owned by institutional investors.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS traded down $3.89 during midday trading on Monday, reaching $285.74. 3,411,208 shares of the company were exchanged, compared to its average volume of 1,937,383. Cadence Design Systems, Inc. has a one year low of $221.56 and a one year high of $328.99. The stock has a market cap of $78.38 billion, a P/E ratio of 74.03, a PEG ratio of 3.88 and a beta of 1.14. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. The stock's 50-day moving average price is $254.54 and its 200-day moving average price is $282.14.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The software maker reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. On average, sell-side analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Activity at Cadence Design Systems

In other news, Director Ita M. Brennan sold 180 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $275.00, for a total value of $49,500.00. Following the transaction, the director now owns 7,411 shares in the company, valued at $2,038,025. The trade was a 2.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Cunningham sold 650 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $252.64, for a total value of $164,216.00. Following the sale, the vice president now directly owns 108,799 shares of the company's stock, valued at $27,486,979.36. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,130 shares of company stock valued at $567,999 over the last 90 days. Insiders own 1.99% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Cadence Design Systems from $318.00 to $328.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. StockNews.com cut Cadence Design Systems from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised Cadence Design Systems from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $300.00 to $325.00 in a research note on Thursday. Robert W. Baird lowered their target price on Cadence Design Systems from $340.00 to $335.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a "buy" rating and issued a $325.00 price objective on shares of Cadence Design Systems in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $321.00.

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.