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

Autodesk, Inc. (NASDAQ:ADSK) was the recipient of a significant growth in short interest during 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. Based on an average daily trading volume, of 1,730,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.7% of the company’s stock are short sold.

Insider Activity at Autodesk

In related news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now owns 17,099 shares in the company, valued at $4,616,730. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total value of $136,499.00. Following the transaction, the director now owns 31,899 shares in the company, valued at approximately $7,916,693.82. The disclosure for this sale can be found here. Insiders have sold 38,212 shares of company stock valued at $9,900,277 over the last quarter. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Autodesk

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADSK. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Autodesk during the 4th quarter valued at $25,000. Concord Wealth Partners acquired a new position in shares of Autodesk during the first quarter worth about $25,000. New Covenant Trust Company N.A. purchased a new stake in shares of Autodesk in the first quarter worth about $25,000. LRI Investments LLC purchased a new stake in shares of Autodesk during the 1st quarter valued at about $26,000. Finally, Olistico Wealth LLC acquired a new position in Autodesk during the 2nd quarter worth approximately $26,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADSK. Robert W. Baird decreased their target price on shares of Autodesk from $296.00 to $289.00 and set an “outperform” rating for the company in a research note on Wednesday, May 29th. Berenberg Bank lifted their target price on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research note on Friday, August 30th. Royal Bank of Canada upped their price target on Autodesk from $290.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Citigroup increased their price target on Autodesk from $316.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Piper Sandler upped their price objective on shares of Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $292.17.

Autodesk Trading Up 1.7 %

NASDAQ ADSK opened at $263.96 on Monday. The company has a market cap of $56.75 billion, a P/E ratio of 57.13, a P/E/G ratio of 3.29 and a beta of 1.48. Autodesk has a 12 month low of $192.01 and a 12 month high of $279.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The company has a 50-day moving average of $248.36 and a 200-day moving average of $239.09.

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