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 $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 $34.61 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 $59.18 million.
As published in their initiating research note from Mizuho on October 22, 2024, Synopsys, Inc [SNPS] has been an Outperform and the price target has been revised to $650. Analysts at Berenberg started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of April 04, 2024, Piper Sandler has initiated its “an Overweight” rating for SNPS. Earlier on November 30, 2023, Needham resumed its rating. Their recommendation was “a Buy” for SNPS stock.
Analyzing SNPS Stock Performance
During the last five days, there has been a surge of approximately 3.12%. Over the course of the year, Synopsys, Inc shares have jumped approximately 7.43%. 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 $505.61, while a 200-day SMA reached $549.11. Nevertheless, trading volume fell to 1.31 million shares from 0.63 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 540.01, which, if violated, would cause prices to drop to 526.88. In the upper region, resistance lies at 560.56. The next price resistance is at 567.98. RSI (Relative Strength Index) is 63.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 19.02, which suggests the price will increase in the coming days. Percent R is at 2.60%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
