ExodusPoint Capital Management LP Has $39.37 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

ExodusPoint Capital Management LP increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 521.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 81,111 shares of the semiconductor company's stock after acquiring an additional 68,067 shares during the period. ExodusPoint Capital Management LP owned about 0.05% of Synopsys worth $39,368,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in shares of Synopsys in the fourth quarter valued at about $27,000. Whipplewood Advisors LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $33,000. Sierra Ocean LLC bought a new stake in shares of Synopsys during the fourth quarter valued at approximately $39,000. Hazlett Burt & Watson Inc. raised its position 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 purchasing an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Synopsys in the 4th quarter valued at $51,000. Institutional investors and hedge funds own 85.47% of the company's stock.

Synopsys Trading Up 3.0 %

Shares of Synopsys stock traded up $11.42 during trading on Tuesday, hitting $392.32. 808,167 shares of the stock were exchanged, compared to its average volume of 1,072,461. Synopsys, Inc. has a 1-year low of $365.74 and a 1-year high of $624.80. The stock has a market capitalization of $60.66 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 3.23 and a beta of 1.23. The company has a fifty day moving average price of $471.23 and a 200-day moving average price of $502.20.

Remove Ads

Insider Buying and Selling at Synopsys

In related news, CEO Sassine Ghazi sold 11,366 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $463.75, for a total transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Richard S. Mahoney sold 20,838 shares of Synopsys stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the completion of the sale, the executive now owns 1,460 shares of the company's stock, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,909 shares of company stock worth $22,794,835 over the last 90 days. Company insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNPS. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Morgan Stanley cut their price target on shares of Synopsys from $625.00 to $590.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Rosenblatt Securities restated a "buy" rating and set a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. Needham & Company LLC reiterated a "buy" rating and set a $650.00 target price on shares of Synopsys in a report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target on Synopsys from $540.00 to $520.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Synopsys currently has an average rating of "Moderate Buy" and an average target price of $638.58.

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.