Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Synopsys, Inc. shares valued at $5,701,201 were sold by Ghazi Sassine on Aug 23 ’24. At $553.89 per share, Ghazi Sassine sold 10,293 shares. The insider’s holdings dropped to 62,568 shares worth approximately $31.37 million following the completion of this transaction.
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Also, SASSINE E GHAZI purchased 10,293 shares, netting a total of over 5,701,200 in proceeds.
Before that, DE GEUS AART had sold 493 shares from its account. In a trade valued at $305,954, the EXECUTIVE CHAIR traded Synopsys, Inc. shares for $620.60 each. Upon closing the transaction, the insider’s holdings decreased to 493 shares, worth approximately $53.64 million.
As published in their initiating research note from Berenberg on October 15, 2024, Synopsys, Inc. [SNPS] has been a Buy and the price target has been revised to $660. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in early April. As of November 30, 2023, Needham has reiterated its “Buy” rating for SNPS. Earlier on November 10, 2023, Morgan Stanley initiated its rating. Their recommendation was “an Overweight” for SNPS stock.
Analyzing SNPS Stock Performance
During the last five days, there has been a drop of approximately -5.23%. Over the course of the year, Synopsys, Inc. shares have dropped approximately -2.63%. Shares of the company reached a 52-week high of $629.38 on 02/22/24 and a 52-week low of $457.52 on 09/09/24. A 50-day SMA is recorded $511.99, while a 200-day SMA reached $548.52. Nevertheless, trading volume fell to 1.66 million shares from 1.49 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 492.58, which, if violated, would cause prices to drop to 483.80. In the upper region, resistance lies at 513.05. The next price resistance is at 524.74. RSI (Relative Strength Index) is 45.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 8.20, which suggests the price will increase in the coming days. Percent R is at 80.54%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
