Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its holdings in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 12.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 258,125 shares of the software maker’s stock after purchasing an additional 29,528 shares during the period. Vontobel Holding Ltd. owned approximately 0.09% of Cadence Design Systems worth $77,556,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Creative Planning increased its position in shares of Cadence Design Systems by 9.1% during the third quarter. Creative Planning now owns 48,389 shares of the software maker’s stock worth $13,115,000 after acquiring an additional 4,038 shares during the period. Swedbank AB increased its holdings in Cadence Design Systems by 15.1% during the 3rd quarter. Swedbank AB now owns 1,753,814 shares of the software maker’s stock worth $475,336,000 after purchasing an additional 230,672 shares during the period. Carderock Capital Management Inc. raised its position in Cadence Design Systems by 1.6% in the 3rd quarter. Carderock Capital Management Inc. now owns 33,319 shares of the software maker’s stock valued at $9,030,000 after purchasing an additional 528 shares in the last quarter. Tamar Securities LLC boosted its stake in shares of Cadence Design Systems by 64.4% in the 3rd quarter. Tamar Securities LLC now owns 80,633 shares of the software maker’s stock valued at $21,854,000 after buying an additional 31,591 shares during the period. Finally, Walter Public Investments Inc. grew its position in shares of Cadence Design Systems by 52.0% during the third quarter. Walter Public Investments Inc. now owns 55,363 shares of the software maker’s stock worth $15,005,000 after buying an additional 18,948 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Anirudh Devgan sold 93,151 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $310.00, for a total value of $28,876,810.00. Following the completion of the sale, the chief executive officer now owns 55,874 shares in the company, valued at $17,320,940. This represents a 62.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was 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 $18,512,553.59. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,416 shares of company stock valued at $33,538,875. 1.99% of the stock is currently owned by company insiders.

Cadence Design Systems Trading Up 0.7 %

NASDAQ:CDNS opened at $296.16 on Friday. The company has a market capitalization of $81.23 billion, a PE ratio of 77.73, a P/E/G ratio of 3.50 and a beta of 1.03. Cadence Design Systems, Inc. has a 52-week low of $241.29 and a 52-week high of $328.99. The stock’s 50 day moving average price is $303.70 and its 200 day moving average price is $285.87. The company has a quick ratio of 2.27, a current ratio of 2.45 and a debt-to-equity ratio of 0.54.

Analysts Set New Price Targets

CDNS has been the topic of several analyst reports. StockNews.com cut shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Loop Capital began 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 on the stock. Needham & Company LLC decreased their price objective on shares of Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Redburn Atlantic assumed coverage on Cadence Design Systems in a report on Monday, January 13th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Robert W. Baird raised their price target on Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $327.92.

Cadence Design Systems 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.