XTX Topco Ltd Trims Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

XTX Topco Ltd lessened its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) by 40.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,945 shares of the software maker's stock after selling 3,339 shares during the period. XTX Topco Ltd's holdings in Cadence Design Systems were worth $1,340,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CDNS. Dudley Capital Management LLC raised its holdings 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 valued at $257,000 after purchasing an additional 39 shares during the period. Trust Point Inc. raised its stake in Cadence Design Systems by 2.9% during the 3rd quarter. Trust Point Inc. now owns 1,397 shares of the software maker's stock worth $379,000 after buying an additional 40 shares during the period. Falcon Wealth Planning boosted its holdings in Cadence Design Systems by 5.1% in the third quarter. Falcon Wealth Planning now owns 819 shares of the software maker's stock worth $222,000 after acquiring an additional 40 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Cadence Design Systems by 0.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,539 shares of the software maker's stock valued at $1,501,000 after acquiring an additional 40 shares during the period. Finally, Venture Visionary Partners LLC increased its holdings in shares of Cadence Design Systems by 2.5% during the third quarter. Venture Visionary Partners LLC now owns 1,709 shares of the software maker's stock valued at $463,000 after acquiring an additional 41 shares in the last quarter. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of Cadence Design Systems stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $306.19, for a total value of $199,023.50. Following the transaction, the vice president now directly owns 60,461 shares of the company's stock, valued at $18,512,553.59. The trade was a 1.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vincentelli Albert Sangiovanni sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $275.98, for a total value of $413,970.00. Following the transaction, the director now directly owns 43,551 shares of the company's stock, valued at $12,019,204.98. The trade was a 3.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,634 shares of company stock valued at $1,584,080. 0.62% of the stock is owned by company insiders.

Cadence Design Systems Stock Performance

Shares of Cadence Design Systems stock traded up $2.24 during trading hours on Monday, hitting $309.75. 1,518,449 shares of the company's stock traded hands, compared to its average volume of 1,761,813. The stock has a market capitalization of $84.95 billion, a price-to-earnings ratio of 81.30, a PEG ratio of 4.17 and a beta of 1.03. Cadence Design Systems, Inc. has a 12-month low of $241.29 and a 12-month high of $328.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.45 and a quick ratio of 2.27. The company has a fifty day simple moving average of $286.53 and a 200-day simple moving average of $285.22.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The software maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.20. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Cadence Design Systems had a net margin of 23.87% and a return on equity of 28.49%. The firm's quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. Equities research analysts anticipate that Cadence Design Systems, Inc. will post 4.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CDNS has been the topic of a number of recent research reports. Mizuho started coverage on Cadence Design Systems in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $325.00 target price on the stock. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $280.00 price objective on shares of Cadence Design Systems in a research note on Tuesday, October 29th. Oppenheimer began coverage on shares of Cadence Design Systems in a research report on Wednesday, September 25th. They set an "underperform" rating and a $225.00 target price for the company. Robert W. Baird raised their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC cut 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Cadence Design Systems has an average rating of "Moderate Buy" and an average target price of $326.00.

Cadence Design Systems Company Profile

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.