Is Synopsys, Inc. (NASDAQ:SNPS) ready to raly soon? Investors who are in the know are reducing their bets on the stock. The number of long hedge fund positions went down by 2 in recent months.
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Consequently, we’re going to take a peek at the recent action encompassing Synopsys, Inc. (NASDAQ:SNPS).
How are hedge funds trading Synopsys, Inc. (NASDAQ:SNPS)?
In preparation for this year, a total of 16 of the hedge funds we track were long in this stock, a change of -11% from the previous quarter. With hedgies’ capital changing hands, there exists a select group of notable hedge fund managers who were upping their stakes substantially.
Of the funds we track, Panayotis æTakisÆ Sparaggis’s Alkeon Capital Management had the most valuable position in Synopsys, Inc. (NASDAQ:SNPS), worth close to $160 million, comprising 4.7% of its total 13F portfolio. Coming in second is Jim Simons of Renaissance Technologies, with a $30 million position; 0% of its 13F portfolio is allocated to the company. Some other hedgies that hold long positions include Andrew Sandler’s Sandler Capital Management, Cliff Asness’s AQR Capital Management and Brian Ashford-Russell and Tim Woolley’s Polar Capital.
Because Synopsys, Inc. (NASDAQ:SNPS) has faced falling interest from the aggregate hedge fund industry, we can see that there is a sect of money managers that slashed their entire stakes in Q4. Interestingly, Neil Chriss’s Hutchin Hill Capital dumped the biggest position of the 450+ funds we key on, worth about $1 million in stock., and David Harding of Winton Capital Management was right behind this move, as the fund dumped about $1 million worth. These transactions are interesting, as total hedge fund interest was cut by 2 funds in Q4.
How have insiders been trading Synopsys, Inc. (NASDAQ:SNPS)?
Insider trading activity, especially when it’s bullish, is particularly usable when the company in focus has experienced transactions within the past half-year. Over the last six-month time period, Synopsys, Inc. (NASDAQ:SNPS) has seen zero unique insiders purchasing, and 11 insider sales (see the details of insider trades here).
With the results exhibited by Insider Monkey’s tactics, everyday investors must always pay attention to hedge fund and insider trading sentiment, and Synopsys, Inc. (NASDAQ:SNPS) is an important part of this process.
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