Sage Mountain Advisors LLC Has $364,000 Stake in Cadence Design Systems, Inc. (NASDAQ:CDNS)

Sage Mountain Advisors LLC grew its stake in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 14.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,211 shares of the software maker’s stock after purchasing an additional 149 shares during the period. Sage Mountain Advisors LLC’s holdings in Cadence Design Systems were worth $364,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. State Street Corp raised its position in Cadence Design Systems by 0.5% in the 3rd quarter. State Street Corp now owns 11,922,747 shares of the software maker’s stock valued at $3,231,422,000 after buying an additional 60,490 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Cadence Design Systems by 5.3% in the 4th quarter. Jennison Associates LLC now owns 8,010,251 shares of the software maker’s stock worth $2,406,760,000 after acquiring an additional 404,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Cadence Design Systems by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,988,851 shares of the software maker’s stock valued at $1,081,098,000 after purchasing an additional 37,452 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Cadence Design Systems by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 2,933,392 shares of the software maker’s stock valued at $885,356,000 after purchasing an additional 178,212 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Cadence Design Systems by 3.6% during the third quarter. Janus Henderson Group PLC now owns 2,244,676 shares of the software maker’s stock worth $608,373,000 after purchasing an additional 77,246 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Bank of America dropped their target price on shares of Cadence Design Systems from $365.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Mizuho boosted 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. Rosenblatt Securities raised their target price on Cadence Design Systems from $280.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Robert W. Baird lowered their target price on Cadence Design Systems from $340.00 to $335.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, StockNews.com lowered shares of Cadence Design Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cadence Design Systems has a consensus rating of “Moderate Buy” and an average target price of $326.92.

Cadence Design Systems Stock Performance

NASDAQ CDNS opened at $234.25 on Wednesday. The firm has a market cap of $64.21 billion, a P/E ratio of 60.69, a price-to-earnings-growth ratio of 3.88 and a beta of 1.05. The company has a quick ratio of 2.27, a current ratio of 2.93 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $286.00 and its 200-day moving average is $284.88. Cadence Design Systems, Inc. has a 12-month low of $230.09 and a 12-month high of $328.99.

Cadence Design Systems (NASDAQ:CDNS) last issued its earnings results on Tuesday, February 18th. The software maker reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.33). Cadence Design Systems had a net margin of 22.74% and a return on equity of 29.24%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Sell-side analysts predict that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current year.

Insider Buying and Selling

In other Cadence Design Systems news, VP Paul Cunningham sold 650 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $304.84, for a total value of $198,146.00. Following the completion of the transaction, the vice president now directly owns 59,311 shares of the company’s stock, valued at $18,080,365.24. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Anirudh Devgan sold 93,151 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $310.00, for a total transaction of $28,876,810.00. Following the completion of the transaction, the chief executive officer now directly owns 55,874 shares in the company, valued at approximately $17,320,940. The trade was a 62.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,416 shares of company stock valued at $33,504,126. Corporate insiders own 0.62% of the company’s stock.

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.