Kingswood Wealth Advisors LLC Sells 6,509 Shares of Cadence Design Systems, Inc. (NASDAQ:CDNS)

Kingswood Wealth Advisors LLC lowered its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 86.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 993 shares of the software maker’s stock after selling 6,509 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Cadence Design Systems were worth $298,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers increased its position in Cadence Design Systems by 7.7% during the second quarter. Cetera Investment Advisers now owns 53,659 shares of the software maker’s stock worth $16,513,000 after buying an additional 3,843 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Cadence Design Systems during the 2nd quarter worth approximately $4,661,000. Centaurus Financial Inc. raised its stake in Cadence Design Systems by 25.8% in the 2nd quarter. Centaurus Financial Inc. now owns 1,155 shares of the software maker’s stock valued at $356,000 after acquiring an additional 237 shares during the period. Czech National Bank lifted its holdings in Cadence Design Systems by 7.6% during the 3rd quarter. Czech National Bank now owns 55,780 shares of the software maker’s stock valued at $15,118,000 after purchasing an additional 3,923 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Cadence Design Systems by 17.9% in the third quarter. SG Americas Securities LLC now owns 63,716 shares of the software maker’s stock valued at $17,269,000 after purchasing an additional 9,694 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

CDNS has been the subject of a number of research reports. StockNews.com upgraded shares of Cadence Design Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. Needham & Company LLC decreased their target price on Cadence Design Systems from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Wells Fargo & Company started coverage on Cadence Design Systems in a report on Friday, November 22nd. They set an “overweight” rating and a $350.00 price target for the company. Mizuho upped their price objective on Cadence Design Systems from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Redburn Atlantic began coverage on Cadence Design Systems in a report on Monday, January 13th. They set a “buy” rating and a $350.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Cadence Design Systems has an average rating of “Moderate Buy” and an average target price of $329.50.

Cadence Design Systems Stock Down 0.0 %

Shares of CDNS opened at $297.62 on Friday. The firm has a 50 day simple moving average of $305.59 and a two-hundred day simple moving average of $284.74. The company has a market cap of $81.63 billion, a P/E ratio of 78.12, a P/E/G ratio of 3.33 and a beta of 1.04. Cadence Design Systems, Inc. has a one year low of $241.29 and a one year 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.

Insider Buying and Selling

In related news, VP Paul Scannell sold 3,171 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $305.78, for a total transaction of $969,628.38. Following the sale, the vice president now owns 14,318 shares of the company’s stock, valued at $4,378,158.04. This trade represents a 18.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Paul Cunningham sold 650 shares of the business’s stock in a transaction 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 sale, the vice president now owns 60,461 shares in the company, valued at $18,512,553.59. This represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,766 shares of company stock worth $33,348,867 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.