Short-term stake in Autodesk, Inc. (NASDAQ: ADSK) increases 10.2%

Autodesk, Inc. (NASDAQ: ADSKGet 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: ADSKGet 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.

About Autodesk

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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.

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