Autodesk, Inc. (NASDAQ:ADSK) Short Interest Update

Autodesk, Inc. (NASDAQ:ADSK) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 2,480,000 shares, a drop of 11.1% from the January 15th total of 2,790,000 shares. Based on an average trading volume of 1,470,000 shares, the short-interest ratio is presently 1.7 days. Approximately 1.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADSK. Creative Planning lifted its position in shares of Autodesk by 6.3% during the 3rd quarter. Creative Planning now owns 40,030 shares of the software company’s stock worth $11,028,000 after purchasing an additional 2,371 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Autodesk by 2.8% during the third quarter. Global Retirement Partners LLC now owns 5,980 shares of the software company’s stock worth $1,647,000 after buying an additional 162 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Autodesk by 3.8% in the third quarter. Bleakley Financial Group LLC now owns 3,512 shares of the software company’s stock valued at $967,000 after acquiring an additional 129 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Autodesk by 10.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,438 shares of the software company’s stock worth $6,457,000 after acquiring an additional 2,135 shares during the last quarter. Finally, Aaron Wealth Advisors LLC bought a new position in Autodesk during the third quarter worth $311,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ADSK shares. BMO Capital Markets upped their price target on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Barclays raised their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Robert W. Baird upped their price target on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a research report on Friday, November 29th. Finally, Scotiabank began coverage on Autodesk in a report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average target price of $333.77.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $302.72 on Friday. The business’s 50-day simple moving average is $299.44 and its 200-day simple moving average is $283.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The firm has a market cap of $65.08 billion, a price-to-earnings ratio of 60.06, a P/E/G ratio of 3.17 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the company posted $1.33 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts expect that Autodesk will post 5.76 earnings per share for the current fiscal year.

About Autodesk

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.