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

Autodesk, Inc. (NASDAQ:ADSK) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 2,920,000 shares, a decline of 5.2% from the December 15th total of 3,080,000 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average trading volume of 1,430,000 shares, the short-interest ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ADSK. DA Davidson began coverage on shares of Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 target price on the stock. Robert W. Baird boosted their price target on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a research note on Friday, November 29th. Macquarie assumed coverage on Autodesk in a report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 target price on the stock. Finally, Morgan Stanley increased their price target on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $326.05.

Autodesk Stock Up 0.5 %

NASDAQ:ADSK opened at $291.45 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The stock’s fifty day simple moving average is $300.44 and its 200-day simple moving average is $275.58. The firm has a market capitalization of $62.66 billion, a P/E ratio of 57.83, a P/E/G ratio of 3.36 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.33 earnings per share. Equities research analysts expect that Autodesk will post 5.76 earnings per share for the current year.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

Institutional investors and hedge funds have recently made changes to their positions in the company. Livelsberger Financial Advisory acquired a new stake in Autodesk during the 3rd quarter worth $27,000. Concord Wealth Partners acquired a new stake in shares of Autodesk during the third quarter worth about $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Autodesk during the third quarter worth about $28,000. Central Pacific Bank Trust Division bought a new position in shares of Autodesk during the 4th quarter valued at about $37,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Autodesk by 3,625.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock valued at $41,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.