Phoenix Financial Ltd. Decreases Stock Holdings in Cadence Design Systems, Inc. $CDNS

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Phoenix Financial Ltd. reduced its stake in Cadence Design Systems (NASDAQ:CDNS) by 35.4% in the fourth quarter, selling 3,537 shares and leaving it with 6,441 shares valued at approximately $2.0 million. This move comes as Cadence insiders, including VP Paul Scannell and CFO John M. Wall, have also sold shares totaling $12.9 million over the past 90 days. Despite these sales, the company reported strong Q1 earnings, beating estimates with $1.96 EPS on $1.47 billion in revenue, and analysts maintain a “Moderate Buy” consensus with an average target price of $380.59.

CDNS-1.65%
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