Trade Report: Today, Wells Fargo & Company MN Sold shares of Synopsys Inc. (SNPS)

Today, Wells Fargo & Company MN Sold shares of Synopsys Inc. (SNPS)

Wells Fargo & Company MN cut its stake in shares of Synopsys Inc. (NASDAQ:SNPS) by 72.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 304,147 shares of the company’s stock after selling 784,994 shares during the period. Wells Fargo & Company MN owned about 0.20% of Synopsys worth $18,051,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Mizuho Asset Management Co. Ltd. increased its stake in Synopsys by 43.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,963 shares of the company’s stock valued at $106,000 after buying an additional 590 shares during the period. Creative Planning increased its stake in Synopsys by 17.2% in the third quarter. Creative Planning now owns 1,884 shares of the company’s stock valued at $112,000 after buying an additional 276 shares during the period. Advisor Group Inc. bought a new stake in Synopsys during the second quarter valued at $130,000. Peddock Capital Advisors LLC bought a new stake in Synopsys during the third quarter valued at $203,000. Finally, Calamos Advisors LLC bought a new stake in Synopsys during the second quarter valued at $211,000. 88.45% of the stock is owned by hedge funds and other institutional investors.

Synopsys Inc. (NASDAQ:SNPS) traded up 0.79% on Friday, reaching $61.56. 370,057 shares of the company traded hands. The company has a market capitalization of $9.32 billion, a PE ratio of 39.26 and a beta of 0.88. Synopsys Inc. has a one year low of $39.26 and a one year high of $62.00. The stock’s 50 day moving average price is $59.55 and its 200 day moving average price is $56.13.

Several equities research analysts have weighed in on the stock. Benchmark Co. reaffirmed a “hold” rating and issued a $60.00 price target on shares of Synopsys in a research note on Wednesday, November 9th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Synopsys in a research note on Saturday, October 15th. Needham & Company LLC lifted their price target on shares of Synopsys from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. DA Davidson lifted their price target on shares of Synopsys from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Finally, Zacks Investment Research downgraded shares of Synopsys from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $64.10.

In other Synopsys news, Director Alfred Castino sold 10,000 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $58.44, for a total value of $584,400.00. Following the completion of the transaction, the director now directly owns 27,982 shares in the company, valued at approximately $1,635,268.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian M. Beattie sold 63,125 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $59.18, for a total transaction of $3,735,737.50. Following the completion of the transaction, the executive vice president now owns 74,500 shares of the company’s stock, valued at $4,408,910. The disclosure for this sale can be found here. Company insiders own 1.62% of the company’s stock.

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