Short Interest in Autodesk, Inc. (NASDAQ:ADSK) Grows By 31.8%

Autodesk, Inc. (NASDAQ:ADSK) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totalling 3,360,000 shares, a growth of 31.8% from the June 15th total of 2,550,000 shares. Based on an average daily volume of 2,230,000 shares, the short-interest ratio is currently 1.5 days. Approximately 1.6% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADSK. Barclays dropped their price objective on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $255.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price target on shares of Autodesk in a research note on Tuesday, June 18th. BMO Capital Markets decreased their target price on Autodesk from $293.00 to $254.00 and set a “market perform” rating for the company in a report on Wednesday, June 12th. Finally, Stifel Nicolaus cut 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $262.42.

Insider Buying and Selling

In related news, COO Steven M. Blum sold 19,693 shares of Autodesk stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the sale, the chief operating officer now directly owns 34,443 shares in the company, valued at $8,610,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Mary T. Mcdowell sold 1,100 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the transaction, the director now owns 32,116 shares in the company, valued at $7,264,960.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, the chief operating officer now owns 34,443 shares in the company, valued at $8,610,750. The disclosure for this sale can be found here. Insiders sold 38,831 shares of company stock valued at $9,261,951 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several hedge funds have recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in Autodesk in the first quarter worth about $25,000. Concord Wealth Partners acquired a new stake in Autodesk during the first quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in Autodesk during the first quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in Autodesk in the fourth quarter worth approximately $25,000. Finally, Olistico Wealth LLC bought a new position in shares of Autodesk in the second quarter valued at $26,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Trading Up 1.9 %

NASDAQ:ADSK opened at $253.45 on Monday. The stock has a market cap of $54.62 billion, a price-to-earnings ratio of 54.86, a PEG ratio of 3.39 and a beta of 1.48. The business has a fifty day moving average of $227.64 and a 200-day moving average of $239.54. Autodesk has a 1 year low of $192.01 and a 1 year high of $279.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. Autodesk’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. Equities 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.