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Rhumbline Advisers Trims Stake in Cadence Design Systems, Inc. $CDNS
Rhumbline Advisers reduced its stake in Cadence Design Systems (NASDAQ:CDNS) by 1.6% in the third quarter, now holding 515,817 shares valued at $181.2 million. Despite this, institutional investors own 84.85% of the stock, and analysts maintain a “Moderate Buy” rating with an average price target of $379.59. Company insiders have been net sellers, with the CFO and CEO recently selling shares.