Autodesk, Inc. (NASDAQ:ADSK) Short Interest Update

Autodesk, Inc. (NASDAQ:ADSK) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 2,690,000 shares, a growth of 8.0% from the November 15th total of 2,490,000 shares. Based on an average daily trading volume, of 1,410,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

ADSK has been the subject of several research reports. Morgan Stanley increased their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. KeyCorp upped their price target on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Stifel Nicolaus lifted their price objective on Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Citigroup upped their target price on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Finally, UBS Group assumed coverage on shares of Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 price target on the stock. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $323.05.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. The trade was a 1.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,936 shares of company stock worth $549,333. 0.14% of the stock is owned by insiders.

Institutional Trading of Autodesk

Hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC increased its position in shares of Autodesk by 116.7% during the 2nd quarter. ORG Partners LLC now owns 143 shares of the software company’s stock worth $35,000 after purchasing an additional 77 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Autodesk by 66.5% in the second quarter. Blue Trust Inc. now owns 1,237 shares of the software company’s stock valued at $322,000 after buying an additional 494 shares in the last quarter. Brookstone Capital Management increased its holdings in Autodesk by 82.2% during the second quarter. Brookstone Capital Management now owns 2,531 shares of the software company’s stock worth $633,000 after buying an additional 1,142 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Autodesk by 7.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 15,317 shares of the software company’s stock worth $3,790,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Autodesk by 3.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 75,979 shares of the software company’s stock valued at $18,801,000 after acquiring an additional 2,835 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of ADSK opened at $303.77 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62. The stock has a market capitalization of $65.31 billion, a P/E ratio of 60.27, a P/E/G ratio of 3.62 and a beta of 1.43. The company has a 50 day moving average of $296.76 and a 200-day moving average of $263.94.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Autodesk will post 5.76 EPS for the current fiscal year.

About Autodesk

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.