Autodesk, Inc. (NASDAQ:ADSK) Sees Large Increase in Short Interest

Autodesk, Inc. (NASDAQ:ADSK) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,550,000 shares, an increase of 14.9% from the May 31st total of 2,220,000 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 2,190,000 shares, the days-to-cover ratio is presently 1.2 days.

Insider Buying and Selling

In related news, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the transaction, the director now owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Steven M. Blum sold 17,413 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the transaction, the chief operating officer now directly owns 54,136 shares in the company, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,138 shares of company stock valued at $4,338,701. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Autodesk by 83.5% during the second quarter. GAMMA Investing LLC now owns 3,669 shares of the software company’s stock valued at $908,000 after purchasing an additional 1,670 shares during the period. Appleton Partners Inc. MA boosted its stake in shares of Autodesk by 0.7% during the second quarter. Appleton Partners Inc. MA now owns 24,679 shares of the software company’s stock valued at $6,107,000 after purchasing an additional 183 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Autodesk by 27.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 449,470 shares of the software company’s stock valued at $116,936,000 after purchasing an additional 96,703 shares during the period. Cetera Advisors LLC boosted its stake in shares of Autodesk by 567.2% during the first quarter. Cetera Advisors LLC now owns 20,235 shares of the software company’s stock valued at $5,269,000 after purchasing an additional 17,202 shares during the period. Finally, Cetera Investment Advisers boosted its stake in shares of Autodesk by 163.4% during the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after purchasing an additional 38,196 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on ADSK shares. Citigroup raised their target price on shares of Autodesk from $286.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Bank of America decreased their target price on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Stifel Nicolaus decreased their target price on shares of Autodesk from $316.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Oppenheimer reiterated an “outperform” rating and set a $275.00 price objective on shares of Autodesk in a research report on Tuesday, June 18th. Finally, BMO Capital Markets reduced their price objective on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating on the stock in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Autodesk presently has a consensus rating of “Hold” and a consensus price target of $262.42.

Autodesk Stock Up 0.8 %

NASDAQ ADSK opened at $247.86 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. The company has a fifty day moving average of $221.70 and a two-hundred day moving average of $239.15. The firm has a market capitalization of $53.42 billion, a price-to-earnings ratio of 53.83, a PEG ratio of 3.31 and a beta of 1.48. Autodesk has a 52 week low of $192.01 and a 52 week high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.77 by $0.10. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. Autodesk’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 earnings per share. On average, analysts predict that Autodesk will post 5.55 earnings per share for the current year.

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.