Autodesk, Inc. (NASDAQ:ADSK) Sees Significant Decrease in Short Interest

Autodesk, Inc. (NASDAQ:ADSK) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 2,220,000 shares, a drop of 16.2% from the March 31st total of 2,650,000 shares. Based on an average daily volume of 1,510,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.0% of the shares of the company are sold short.

Insider Buying and Selling

In other Autodesk news, EVP Rebecca Pearce sold 1,628 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $251.54, for a total value of $409,507.12. Following the sale, the executive vice president now directly owns 13,620 shares in the company, valued at $3,425,974.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Rebecca Pearce sold 1,628 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the transaction, the executive vice president now owns 13,620 shares in the company, valued at approximately $3,425,974.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $256.66, for a total value of $141,163.00. Following the sale, the director now owns 33,216 shares of the company’s stock, valued at approximately $8,525,218.56. The disclosure for this sale can be found here. Insiders sold a total of 36,166 shares of company stock valued at $9,465,055 over the last ninety days. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Autodesk

Several large investors have recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. bought a new position in Autodesk in the fourth quarter worth approximately $25,000. Bfsg LLC purchased a new position in shares of Autodesk in the 4th quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new stake in Autodesk in the fourth quarter valued at about $28,000. Private Wealth Management Group LLC purchased a new position in shares of Autodesk in the fourth quarter worth $31,000. Finally, First United Bank & Trust purchased a new stake in Autodesk during the 4th quarter valued at about $34,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Trading Down 0.5 %

Shares of ADSK opened at $216.78 on Tuesday. The firm has a market capitalization of $46.37 billion, a price-to-earnings ratio of 51.49, a PEG ratio of 3.00 and a beta of 1.43. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The firm’s 50-day moving average price is $246.70 and its 200-day moving average price is $235.66. Autodesk has a 1-year low of $189.54 and a 1-year high of $279.53.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. Autodesk’s revenue was up 11.5% on a year-over-year basis. Sell-side analysts anticipate that Autodesk will post 5.38 EPS for the current year.

Analyst Upgrades and Downgrades

ADSK has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on Autodesk from $180.00 to $230.00 and gave the company a “sell” rating in a report on Friday, March 1st. Citigroup upped their target price on Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. KeyCorp increased their price target on Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $316.00 price objective on shares of Autodesk in a research note on Friday, April 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 target price on shares of Autodesk in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average target price of $272.44.

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.