The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Synopsys, Inc. shares valued at $3,081,663 were sold by RUNKEL JOHN F JR on Apr 03 ’24. At $579.37 per share, RUNKEL JOHN F JR sold 5,319 shares. The insider’s holdings dropped to 20,000 shares worth approximately $10.55 million following the completion of this transaction.
Also, CASPER MARC N purchased 750 shares, netting a total of over 439,087 in proceeds. Following the buying of shares at $585.45 each, the insider now holds 1,736 shares.
Before that, VALLEE ROY had sold 10,000 shares from its account. In a trade valued at $5,726,595, the Director traded Synopsys, Inc. shares for $572.66 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $10.55 million.
As published in their initiating research note from Piper Sandler on April 04, 2024, Synopsys, Inc. [SNPS] has been an Overweight and the price target has been revised to $665. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in late November. As of November 10, 2023, Morgan Stanley has initiated its “an Overweight” rating for SNPS. Earlier on September 29, 2023, HSBC Securities initiated its rating. Their recommendation was “a Buy” for SNPS stock.
Analyzing SNPS Stock Performance
During the last five days, there has been a drop of approximately -6.00%. Over the course of the year, Synopsys, Inc. shares have jumped approximately 2.46%. Shares of the company reached a 52-week high of $629.38 on 02/22/24 and a 52-week low of $477.65 on 01/05/24. A 50-day SMA is recorded $568.42, while a 200-day SMA reached $506.44. Nevertheless, trading volume fell to 1.12 million shares from 0.94 million shares the previous day.
Support And Resistance Levels for Synopsys, Inc. (SNPS)
According to the 24-hour chart, there is a support level at 520.01, which, if violated, would cause prices to drop to 512.44. In the upper region, resistance lies at 540.91. The next price resistance is at 554.24. RSI (Relative Strength Index) is 32.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -25.18, which suggests the price will decrease in the coming days. Percent R is at 97.30%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
