Autodesk, Inc. (NASDAQ:ADSK) Short Interest Down 5.2% in December

Autodesk, Inc. (NASDAQ:ADSK) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 2,920,000 shares, a decline of 5.2% from the December 15th total of 3,080,000 shares. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.4% of the shares of the stock are short sold.

Autodesk Price Performance

NASDAQ:ADSK opened at $291.45 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50-day moving average of $300.44 and a 200-day moving average of $275.79. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The company has a market capitalization of $62.66 billion, a price-to-earnings ratio of 57.83, a PEG ratio of 3.36 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data 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 return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts anticipate that Autodesk will post 5.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADSK has been the topic of several analyst reports. Rosenblatt Securities lifted their target price on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. DA Davidson began coverage on Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a research report on Friday, November 29th. Finally, BMO Capital Markets lifted their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $326.05.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated 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 owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Livelsberger Financial Advisory acquired a new stake in shares of Autodesk during the 3rd quarter worth about $27,000. Concord Wealth Partners bought a new position in shares of Autodesk in the third quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new position in shares of Autodesk in the 3rd quarter worth approximately $28,000. Central Pacific Bank Trust Division bought a new stake in Autodesk during the 4th quarter worth approximately $37,000. Finally, Wolff Wiese Magana LLC increased its holdings in Autodesk by 3,625.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock valued at $41,000 after purchasing an additional 145 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

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.