Autodesk, Inc. (NASDAQ: ADSK – Get a rating) was the target of significant growth in short interest during the month of October. As of October 15, there was short interest totaling 3,130,000 shares, a growth of 10.2% from the total of 2,840,000 shares as of September 30. Based on an average trading volume of 1,400,000 shares, the short interest ratio is currently 2.2 days. Currently, 1.5% of the company’s shares are sold short.
Analyst upgrades and downgrades
Several equity research analysts have recently weighed in on the stock. StockNews.com alleged coverage of Autodesk shares in a Wednesday, October 12 report. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft raised its price target on Autodesk shares from $225.00 to $255.00 in a Thursday, August 25 report. Robert W. Baird raised his price target on Autodesk shares from $260.00 to $264.00 and gave the stock an “outperform” rating in a Wednesday, August 17 report. Rosenblatt Securities cut its price target on Autodesk shares from $285.00 to $270.00 and set a “buy” rating for the company in a report Thursday, Aug. 25. Finally, Wolfe Research assumed coverage of Autodesk shares in a report on Tuesday, August 16. They issued an “outperform” rating and a price target of $270.00 for the company. Two equity research analysts rated the stock with a sell rating, five gave the company a hold rating and fifteen gave the company’s stock a buy rating. Based on MarketBeat data, Autodesk has an average rating of “Moderate Buy” and a consensus price target of $257.52.
Insider Trading at Autodesk
In other news, CEO Andre Anagnost sold 34,366 shares of the company in a transaction dated Monday, August 29. The shares were sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following completion of the transaction, the CEO now owns 76,968 shares of the company, valued at $15,922,370.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Insiders hold 0.11% of the company’s shares.
Hedge funds weigh on Autodesk
Major investors have recently changed their positions in the company. Polen Capital Management LLC increased its stake in Autodesk by 18.7% in the first quarter. Polen Capital Management LLC now owns 8,650,112 shares of the software company worth $1,854,152,000 after purchasing an additional 1,365,221 shares in the last quarter. Ninety One UK Ltd increased its stake in Autodesk by 29.0% in the first quarter. Ninety One UK Ltd now owns 3,393,123 shares in the software company worth $727,316,000 after buying a further 762,242 shares in the last quarter. Intermede Investment Partners Ltd acquired a new position in Autodesk in the first quarter worth approximately $130,889,000. Parnassus Investments LLC increased its stake in Autodesk by 480.0% in the first quarter. Parnassus Investments LLC now owns 565,307 shares of the software company worth $121,174,000 after buying an additional 467,842 shares in the last quarter. Finally, Amundi increased its stake in Autodesk by 26.5% in the second quarter. Amundi now owns 1,787,226 shares of the software company worth $305,545,000 after buying an additional 374,086 shares in the last quarter. Institutional investors and hedge funds hold 86.44% of the company’s shares.
Autodesk Price Performance
Shares of ADSK opened at $216.39 on Friday. The company has a market capitalization of $46.71 billion, a price/earnings ratio of 85.53, a P/E/G ratio of 1.90 and a beta of 1.49. Autodesk has a fifty-two week low of $163.20 and a fifty-two week high of $335.48. The company has a debt ratio of 3.08, a current ratio of 0.64 and a quick ratio of 0.64. The company’s 50-day moving average is $200.96 and its 200-day moving average is $197.00.
Autodesk (NASDAQ: ADSK – Get a rating) last reported results on Wednesday, August 24. The software company reported earnings per share of $1.04 for the quarter, beating consensus analyst estimates of $0.92 by $0.12. The company posted revenue of $1.24 billion for the quarter, versus a consensus estimate of $1.22 billion. Autodesk achieved a return on equity of 88.57% and a net margin of 11.76%. The company’s quarterly revenue increased 16.7% year over year. In the same quarter of the previous year, the company achieved EPS of $0.67. Equity research analysts expect Autodesk to post EPS of 4.13 for the current fiscal year.
Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land, transportation, and environmental projects; BIM 360, a cloud-based construction management software; AutoCAD, professional design, drafting, detailing, and visualization software; AutoCAD LT, drafting and detailing software; computer aided manufacturing (CAM) software for computer numerical control machining, inspection and modeling for manufacturing; Fusion 360, a 3D CAD, CAM and computer-aided engineering tool; and industry collections tools for professionals in the architecture, engineering and construction, product design and manufacturing, and media and entertainment collections industries.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Autodesk, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five actions that top analysts are quietly whispering to their clients to buy now before the market spreads…and Autodesk wasn’t on the list.
While Autodesk currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.