ExodusPoint Capital Management LP Buys 68,067 Shares of Synopsys, Inc. (NASDAQ:SNPS)

ExodusPoint Capital Management LP increased its stake in Synopsys, Inc. (NASDAQ:SNPS) by 521.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,111 shares of the semiconductor company’s stock after buying an additional 68,067 shares during the period. ExodusPoint Capital Management LP owned 0.05% of Synopsys worth $39,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC lifted its position in Synopsys by 0.5% during the fourth quarter. Caprock Group LLC now owns 3,714 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 20 shares in the last quarter. Compagnie Lombard Odier SCmA raised its stake in shares of Synopsys by 1.1% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,850 shares of the semiconductor company’s stock worth $898,000 after buying an additional 20 shares during the period. Edge Capital Group LLC lifted its position in shares of Synopsys by 1.2% during the 4th quarter. Edge Capital Group LLC now owns 1,629 shares of the semiconductor company’s stock valued at $791,000 after buying an additional 20 shares in the last quarter. Barden Capital Management Inc. grew its stake in shares of Synopsys by 1.1% during the 4th quarter. Barden Capital Management Inc. now owns 1,832 shares of the semiconductor company’s stock valued at $889,000 after acquiring an additional 20 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its holdings in Synopsys by 28.6% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 90 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SNPS. Robert W. Baird dropped their price target on shares of Synopsys from $644.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price target on shares of Synopsys in a research note on Tuesday, February 25th. Redburn Atlantic began coverage on Synopsys in a research note on Monday, January 13th. They issued a “buy” rating and a $600.00 price objective for the company. Piper Sandler decreased their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley dropped their price target on Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Synopsys has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Insider Buying and Selling at Synopsys

In other news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the sale, the insider now directly owns 116,671 shares in the company, valued at approximately $51,850,925.82. This represents a 11.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $463.75, for a total value of $5,270,982.50. Following the sale, the chief executive officer now directly owns 70,922 shares in the company, valued at $32,890,077.50. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,909 shares of company stock worth $22,794,835 over the last 90 days. 0.62% of the stock is owned by insiders.

Synopsys Stock Performance

SNPS stock opened at $438.55 on Thursday. The firm has a fifty day moving average price of $479.67 and a 200 day moving average price of $504.45. Synopsys, Inc. has a fifty-two week low of $420.47 and a fifty-two week high of $624.80. The firm has a market cap of $67.81 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.