Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Kessler Investment Group LLC

Kessler Investment Group LLC trimmed its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 87.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,272 shares of the software maker’s stock after selling 9,242 shares during the period. Kessler Investment Group LLC’s holdings in Cadence Design Systems were worth $382,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Missouri Trust & Investment Co acquired a new stake in Cadence Design Systems during the 3rd quarter valued at $27,000. MidAtlantic Capital Management Inc. bought a new position in Cadence Design Systems during the 3rd quarter valued at $28,000. Golden State Wealth Management LLC bought a new position in Cadence Design Systems during the 4th quarter valued at $28,000. Versant Capital Management Inc boosted its stake in Cadence Design Systems by 164.2% during the 4th quarter. Versant Capital Management Inc now owns 140 shares of the software maker’s stock valued at $42,000 after acquiring an additional 87 shares during the last quarter. Finally, Prestige Wealth Management Group LLC boosted its stake in Cadence Design Systems by 56.6% during the 3rd 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Loop Capital began coverage on shares of Cadence Design Systems in a research note on Monday, November 11th. They set a “buy” rating and a $360.00 price objective on the stock. Robert W. Baird raised their price target on shares of Cadence Design Systems from $332.00 to $340.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Rosenblatt Securities restated a “neutral” rating and issued a $280.00 price target on shares of Cadence Design Systems in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company began coverage on shares of Cadence Design Systems in a research report on Friday, November 22nd. They issued an “overweight” rating and a $350.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $326.08.

Cadence Design Systems Trading Down 0.3 %

Shares of NASDAQ:CDNS opened at $295.19 on Friday. The company has a market cap of $80.96 billion, a PE ratio of 77.48, a P/E/G ratio of 3.50 and a beta of 1.03. The company’s 50-day moving average price is $303.55 and its 200 day moving average price is $285.94. 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 quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54.

Insider Activity at Cadence Design Systems

In other Cadence Design Systems news, CEO Anirudh Devgan sold 5,920 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $304.04, for a total transaction of $1,799,916.80. Following the transaction, the chief executive officer now owns 55,874 shares of the company’s stock, valued at approximately $16,987,930.96. This trade represents a 9.58 % decrease in their position. The transaction 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 firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $306.19, for a total transaction of $199,023.50. Following the transaction, the vice president now directly owns 60,461 shares in the company, valued at approximately $18,512,553.59. The trade was a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,416 shares of company stock worth $33,538,875 in the last ninety days. 1.99% of the stock is owned by insiders.

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.