Insight Holdings Group LLC Sells 12,500 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Insight Holdings Group LLC decreased its position in shares of Synopsys, Inc. (NASDAQ:SNPS) by 62.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,600 shares of the semiconductor company’s stock after selling 12,500 shares during the period. Synopsys makes up about 0.2% of Insight Holdings Group LLC’s investment portfolio, making the stock its 21st largest position. Insight Holdings Group LLC’s holdings in Synopsys were worth $3,689,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SNPS. Norges Bank purchased a new stake in shares of Synopsys in the fourth quarter worth approximately $583,608,000. Price T Rowe Associates Inc. MD increased its stake in Synopsys by 21.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,902,696 shares of the semiconductor company’s stock worth $2,864,933,000 after buying an additional 1,045,326 shares during the period. Capital Research Global Investors bought a new stake in Synopsys during the 4th quarter valued at about $239,864,000. Raymond James Financial Inc. purchased a new stake in Synopsys in the 4th quarter valued at about $199,065,000. Finally, Proficio Capital Partners LLC increased its position in shares of Synopsys by 71,578.5% during the fourth quarter. Proficio Capital Partners LLC now owns 386,347 shares of the semiconductor company’s stock worth $187,517,000 after acquiring an additional 385,808 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Synopsys Price Performance

NASDAQ:SNPS opened at $446.62 on Monday. The firm has a market cap of $69.06 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. The company has a 50 day moving average price of $436.66 and a 200-day moving average price of $491.94. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80.

Wall Street Analyst Weigh In

SNPS has been the subject of several research reports. Piper Sandler lowered their target price on Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. KeyCorp lowered their price target on shares of Synopsys from $690.00 to $555.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Redburn Atlantic assumed coverage on Synopsys in a report on Monday, January 13th. They issued a “buy” rating and a $600.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and set a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company cut their price objective on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $618.31.

Insider Activity

In other Synopsys news, insider Geus Aart De sold 15,705 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 owns 70,922 shares of the company’s stock, valued at approximately $32,890,077.50. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Synopsys Company Profile

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.