Jackson Square Partners LLC Increases Stake in Synopsys, Inc. (NASDAQ:SNPS)

Jackson Square Partners LLC raised its position in Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 26,252.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,176 shares of the semiconductor company's stock after acquiring an additional 13,126 shares during the quarter. Jackson Square Partners LLC's holdings in Synopsys were worth $6,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SNPS. Raymond James Financial Inc. purchased a new position in shares of Synopsys in the fourth quarter worth approximately $199,065,000. Proficio Capital Partners LLC boosted its stake in shares of Synopsys by 71,578.5% during the 4th 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 last quarter. Wellington Management Group LLP grew its position in shares of Synopsys by 32.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,048,709 shares of the semiconductor company's stock valued at $531,056,000 after acquiring an additional 257,526 shares during the period. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of Synopsys in the 4th quarter worth $104,741,000. Finally, American Century Companies Inc. raised its holdings in Synopsys by 38.7% in the 4th quarter. American Century Companies Inc. now owns 571,474 shares of the semiconductor company's stock worth $277,371,000 after purchasing an additional 159,344 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Stock Down 1.9 %

NASDAQ SNPS traded down $8.28 during trading on Friday, hitting $437.95. 941,520 shares of the stock traded hands, compared to its average volume of 1,048,262. Synopsys, Inc. has a 12-month low of $425.73 and a 12-month high of $624.80. The firm has a 50-day simple moving average of $485.62 and a 200-day simple moving average of $505.55. The company has a market capitalization of $67.72 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.16.

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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 value of $6,979,616.10. Following 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO Sassine Ghazi sold 11,366 shares of the firm'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 transaction of $5,270,982.50. Following the transaction, the chief executive officer now directly owns 70,922 shares in the company, 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 have sold a total of 47,909 shares of company stock worth $22,794,835 over the last ninety days. Company insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SNPS shares. Piper Sandler decreased their price objective on Synopsys from $655.00 to $653.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Robert W. Baird decreased their target price on shares of Synopsys from $644.00 to $630.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. Rosenblatt Securities reiterated a "buy" rating and issued a $660.00 price target on shares of Synopsys in a research report on Tuesday, February 25th. Needham & Company LLC restated a "buy" rating and set a $650.00 price objective on shares of Synopsys in a research report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their target price on shares of Synopsys from $540.00 to $520.00 and set an "equal weight" rating for the company 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.