Baader Bank Aktiengesellschaft Has $8.83 Million Stock Position in Cadence Design Systems, Inc. $CDNS

Baader Bank Aktiengesellschaft raised its position in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,178 shares of the software maker’s stock after buying an additional 2,253 shares during the period. Cadence Design Systems accounts for about 0.6% of Baader Bank Aktiengesellschaft’s investment portfolio, making the stock its 28th biggest position. Baader Bank Aktiengesellschaft’s holdings in Cadence Design Systems were worth $8,828,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Cadence Design Systems during the 2nd quarter worth approximately $1,190,618,000. Massachusetts Financial Services Co. MA boosted its stake in Cadence Design Systems by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock worth $1,866,739,000 after purchasing an additional 731,788 shares in the last quarter. Voya Investment Management LLC boosted its stake in Cadence Design Systems by 914.2% in the third quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock worth $242,746,000 after purchasing an additional 622,934 shares in the last quarter. Scge Management L.P. bought a new stake in shares of Cadence Design Systems during the second quarter worth $187,663,000. Finally, Bain Capital Public Equity Management II LLC acquired a new stake in shares of Cadence Design Systems in the second quarter valued at $130,534,000. 84.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Cadence Design Systems

In other news, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $295.09, for a total transaction of $295,090.00. Following the transaction, the vice president directly owned 95,137 shares of the company’s stock, valued at $28,073,977.33. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul Scannell sold 5,490 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $339.43, for a total transaction of $1,863,470.70. Following the completion of the transaction, the vice president directly owned 20,321 shares of the company’s stock, valued at $6,897,557.03. This trade represents a 21.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,475 shares of company stock worth $18,505,486 over the last ninety days. 0.37% of the stock is owned by corporate insiders.

Cadence Design Systems Stock Up 2.7%

NASDAQ:CDNS opened at $299.00 on Wednesday. Cadence Design Systems, Inc. has a 12-month low of $221.56 and a 12-month high of $376.45. The company has a quick ratio of 2.84, a current ratio of 3.05 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $81.39 billion, a P/E ratio of 77.06, a P/E/G ratio of 3.24 and a beta of 1.01. The stock’s fifty day simple moving average is $314.14 and its 200-day simple moving average is $331.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CDNS shares. Wolfe Research reissued an “outperform” rating and set a $385.00 price objective on shares of Cadence Design Systems in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. Oppenheimer raised shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price target for the company in a report on Monday, December 1st. Robert W. Baird upped their price objective on Cadence Design Systems from $390.00 to $418.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Finally, Citigroup assumed coverage on Cadence Design Systems in a research note on Monday, November 24th. They issued a “buy” rating and a $385.00 target price for the company. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $379.59.

About Cadence Design Systems

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.