Short Interest in Autodesk, Inc. (NASDAQ:ADSK) Increases By 45.7%

Autodesk, Inc. (NASDAQ:ADSK) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,570,000 shares, a growth of 45.7% from the August 15th total of 2,450,000 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is currently 2.1 days.

Insiders Place Their Bets

In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the sale, the director now owns 31,566 shares of the company’s stock, valued at $7,418,010. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the transaction, the director now directly owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at approximately $4,616,730. The disclosure for this sale can be found here. Insiders sold 38,762 shares of company stock worth $10,029,527 over the last quarter. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in Autodesk during the 4th quarter valued at $25,000. Concord Wealth Partners purchased a new stake in shares of Autodesk during the first quarter worth about $25,000. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk in the first quarter worth about $25,000. LRI Investments LLC purchased a new position in Autodesk during the 1st quarter valued at about $26,000. Finally, Olistico Wealth LLC bought a new position in Autodesk during the 2nd quarter valued at approximately $26,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Performance

Autodesk stock opened at $263.96 on Friday. The firm has a fifty day simple moving average of $248.36 and a two-hundred day simple moving average of $239.21. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53. The company has a market capitalization of $56.75 billion, a PE ratio of 57.13, a P/E/G ratio of 3.29 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. Autodesk’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 EPS. Research analysts expect that Autodesk will post 5.73 EPS for the current year.

Wall Street Analyst Weigh In

ADSK has been the topic of several analyst reports. Bank of America upped their price target on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Berenberg Bank increased their target price on shares of Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Mizuho boosted their price target on shares of Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Finally, HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and boosted their target price for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.17.

Autodesk Company Profile

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.