Autodesk, Inc. (NASDAQ:ADSK) Short Interest Up 45.7% in August

Autodesk, Inc. (NASDAQ:ADSK) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 3,570,000 shares, an increase of 45.7% from the August 15th total of 2,450,000 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average trading volume of 1,730,000 shares, the short-interest ratio is presently 2.1 days.

Insider Activity at Autodesk

In other Autodesk news, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares in the company, valued at approximately $8,610,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the transaction, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the 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 completion of the transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders have sold a total of 38,762 shares of company stock worth $10,029,527 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently bought and sold shares of the business. Gilbert & Cook Inc. grew its position in shares of Autodesk by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 1,974 shares of the software company’s stock worth $481,000 after purchasing an additional 103 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Autodesk during the fourth quarter valued at approximately $287,000. Foundations Investment Advisors LLC lifted its holdings in shares of Autodesk by 97.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 3,446 shares of the software company’s stock worth $879,000 after buying an additional 1,702 shares in the last quarter. Beacon Pointe Advisors LLC boosted its position in shares of Autodesk by 0.6% during the fourth quarter. Beacon Pointe Advisors LLC now owns 11,338 shares of the software company’s stock worth $2,761,000 after acquiring an additional 67 shares during the last quarter. Finally, Private Wealth Management Group LLC bought a new position in shares of Autodesk during the fourth quarter worth $31,000. 90.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Rosenblatt Securities increased their price objective on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and increased their price objective for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. KeyCorp reissued an “overweight” rating and issued a $305.00 target price on shares of Autodesk in a research report on Monday, August 26th. Barclays raised their price target on shares of Autodesk from $275.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, Mizuho boosted their price objective on shares of Autodesk from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $292.17.

Autodesk Stock Up 1.7 %

ADSK stock opened at $263.96 on Friday. The business’s 50-day moving average price is $248.36 and its 200-day moving average price is $239.21. The stock has a market cap of $56.75 billion, a P/E ratio of 57.13, a PEG ratio of 3.29 and a beta of 1.48. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 earnings per share. On average, equities research analysts forecast that Autodesk will post 5.73 EPS 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.