Autodesk, Inc. (NASDAQ:ADSK) Sees Large Growth in Short Interest

Autodesk, Inc. (NASDAQ:ADSKGet Free Report) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 2,220,000 shares, an increase of 5.2% from the May 15th total of 2,110,000 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,890,000 shares, the days-to-cover ratio is presently 1.2 days.

Insiders Place Their Bets

In related news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the sale, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the sale, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Deborah Clifford sold 5,553 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.01, for a total transaction of $1,443,835.53. Following the completion of the sale, the chief financial officer now directly owns 32,259 shares in the company, valued at approximately $8,387,662.59. The disclosure for this sale can be found here. Insiders have sold a total of 47,501 shares of company stock valued at $11,714,162 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Autodesk by 1.9% during the first quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after buying an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Autodesk by 263.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after buying an additional 4,563,668 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Autodesk by 1.2% during the third quarter. Clearbridge Investments LLC now owns 3,018,078 shares of the software company’s stock valued at $624,471,000 after buying an additional 35,105 shares during the last quarter. FIL Ltd grew its holdings in shares of Autodesk by 19.6% during the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after buying an additional 479,559 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in Autodesk by 12.9% during the fourth quarter. Brown Advisory Inc. now owns 2,859,954 shares of the software company’s stock valued at $696,342,000 after purchasing an additional 327,144 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ADSK shares. Stifel Nicolaus lowered their target price on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Rosenblatt Securities reissued a “buy” rating and set a $290.00 target price on shares of Autodesk in a report on Wednesday, June 12th. StockNews.com cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Barclays lowered their target price on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Finally, BMO Capital Markets reduced their price target on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Autodesk presently has an average rating of “Hold” and a consensus price target of $262.42.

View Our Latest Research Report on Autodesk

Autodesk Price Performance

Shares of ADSK opened at $244.12 on Thursday. The stock has a market cap of $52.61 billion, a PE ratio of 52.84, a price-to-earnings-growth ratio of 3.22 and a beta of 1.43. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. Autodesk has a fifty-two week low of $192.01 and a fifty-two week high of $279.53. The firm’s 50-day simple moving average is $218.65 and its two-hundred day simple moving average is $238.12.

Autodesk (NASDAQ:ADSKGet Free Report) last posted its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts anticipate that Autodesk will post 5.55 earnings per share for the current fiscal year.

About Autodesk

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Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.

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