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

Autodesk, Inc. (NASDAQ:ADSK) saw a significant increase in short interest in 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. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,190,000 shares, the short-interest ratio is currently 1.2 days.

Autodesk Trading Up 0.8 %

Shares of NASDAQ ADSK opened at $247.86 on Wednesday. The company’s fifty day moving average is $221.70 and its 200-day moving average is $239.15. The stock has a market cap of $53.42 billion, a price-to-earnings ratio of 53.83, a P/E/G ratio of 3.31 and a beta of 1.48. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06.

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

Wall Street Analysts Forecast Growth

ADSK has been the subject of a number of research reports. Berenberg Bank lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price target for the company. in a report on Wednesday, May 1st. Barclays lowered their price target on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. Morgan Stanley reissued an “equal weight” rating and issued a $255.00 price target on shares of Autodesk in a report on Wednesday, June 12th. Oppenheimer reissued an “outperform” rating and issued a $275.00 price target on shares of Autodesk in a report on Tuesday, June 18th. Finally, BMO Capital Markets lowered their target price on shares of Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $262.42.

Insider Transactions at Autodesk

In other news, COO Steven M. Blum sold 17,413 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Steven M. Blum sold 17,413 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $235.00, for a total transaction of $129,250.00. Following the sale, the director now directly owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,138 shares of company stock valued at $4,338,701. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors have recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. bought a new stake in Autodesk in the 4th quarter valued at $25,000. Concord Wealth Partners acquired a new stake in Autodesk in the 1st quarter valued at $25,000. New Covenant Trust Company N.A. acquired a new stake in Autodesk in the 1st quarter valued at $25,000. LRI Investments LLC acquired a new stake in Autodesk in the 1st quarter valued at $26,000. Finally, Bfsg LLC acquired a new stake in Autodesk in the 4th quarter valued at $27,000. 90.24% of the stock is owned by institutional investors.

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.