Autodesk, Inc. (NASDAQ:ADSK – Get Rating) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 4,150,000 shares, a growth of 18.9% from the March 31st total of 3,490,000 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,890,000 shares, the days-to-cover ratio is presently 2.2 days.
A number of equities research analysts have weighed in on ADSK shares. Barclays reduced their target price on Autodesk from $289.00 to $275.00 in a report on Friday, February 25th. Piper Sandler cut their price objective on Autodesk from $340.00 to $298.00 and set an “overweight” rating on the stock in a report on Friday, February 25th. KeyCorp cut their price objective on Autodesk from $300.00 to $260.00 and set an “overweight” rating on the stock in a report on Friday, February 25th. The Goldman Sachs Group reissued a “sell” rating and set a $220.00 price objective (down previously from $250.00) on shares of Autodesk in a report on Tuesday, March 8th. Finally, Stifel Nicolaus cut their price objective on Autodesk from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Friday, February 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Autodesk currently has an average rating of “Buy” and an average price target of $292.85.
In related news, CFO Deborah Clifford sold 1,820 shares of the stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $212.30, for a total transaction of $386,386.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Stephen W. Hope sold 1,626 shares of the firm’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $212.30, for a total value of $345,199.80. The disclosure for this sale can be found here. Insiders have sold 7,458 shares of company stock worth $1,545,628 in the last three months. 0.11% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Curi Wealth Management LLC bought a new stake in Autodesk in the 4th quarter valued at about $25,000. Gradient Investments LLC increased its position in Autodesk by 68.4% in the 4th quarter. Gradient Investments LLC now owns 96 shares of the software company’s stock valued at $27,000 after buying an additional 39 shares in the last quarter. Investment Research & Advisory Group Inc. bought a new stake in Autodesk in the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new stake in Autodesk in the 4th quarter valued at about $28,000. Finally, Hanson & Doremus Investment Management increased its position in Autodesk by 1,136.4% in the 1st quarter. Hanson & Doremus Investment Management now owns 136 shares of the software company’s stock valued at $29,000 after buying an additional 125 shares in the last quarter. 89.55% of the stock is owned by hedge funds and other institutional investors.
ADSK stock opened at $193.22 on Wednesday. The stock has a 50-day moving average price of $204.31 and a 200-day moving average price of $249.18. Autodesk has a 1-year low of $180.19 and a 1-year high of $344.39. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.68. The firm has a market cap of $41.99 billion, a PE ratio of 86.65 and a beta of 1.44.
Autodesk (NASDAQ:ADSK – Get Rating) last posted its quarterly earnings data on Thursday, February 24th. The software company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. Autodesk had a return on equity of 55.95% and a net margin of 11.33%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company posted $0.80 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. On average, analysts forecast that Autodesk will post 4.25 earnings per share for the current year.
Autodesk Company Profile
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 development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.