Cadence Design Systems, Inc. (NASDAQ:CDNS) Shares Sold by Ifrah Financial Services Inc.

Ifrah Financial Services Inc. decreased its holdings in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,778 shares of the software maker’s stock after selling 175 shares during the period. Ifrah Financial Services Inc.’s holdings in Cadence Design Systems were worth $1,436,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CDNS. Creative Planning boosted its stake 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 buying an additional 4,038 shares during the period. Swedbank AB raised its holdings in Cadence Design Systems by 15.1% during the third 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 in the last quarter. Good Life Advisors LLC purchased a new position in Cadence Design Systems during the third quarter worth about $278,000. Secure Asset Management LLC purchased a new position in Cadence Design Systems in the third quarter valued at about $225,000. Finally, Trust Point Inc. increased its holdings in Cadence Design Systems by 2.9% in the third quarter. Trust Point Inc. now owns 1,397 shares of the software maker’s stock valued at $379,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Upgrades and Downgrades

CDNS has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on shares of Cadence Design Systems from $332.00 to $340.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Redburn Atlantic began coverage on Cadence Design Systems in a research report on Monday, January 13th. They set a “buy” rating and a $350.00 price objective for the company. Loop Capital began coverage on Cadence Design Systems in a research report on Monday, November 11th. They set a “buy” rating and a $360.00 price objective for the company. StockNews.com downgraded Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Mizuho lifted their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Cadence Design Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.08.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Scannell sold 3,171 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $305.78, for a total value of $969,628.38. Following the sale, the vice president now owns 14,318 shares in the company, valued at approximately $4,378,158.04. This represents a 18.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the company’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 completion of the sale, the vice president now owns 60,461 shares in the company, valued at approximately $18,512,553.59. This trade represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,416 shares of company stock valued at $33,538,875 in the last ninety days. Insiders own 1.99% of the company’s stock.

Cadence Design Systems Stock Performance

NASDAQ:CDNS opened at $295.19 on Monday. 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 firm has a 50-day moving average of $303.30 and a two-hundred day moving average of $286.43. The stock has a market cap of $80.96 billion, a P/E ratio of 77.48, a PEG ratio of 3.50 and a beta of 1.03. Cadence Design Systems, Inc. has a 1-year low of $241.29 and a 1-year high of $328.99.

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.