Autodesk Inc. (ADSK) Short Interest Down 17.3% in September
Autodesk Inc. (NASDAQ:ADSK) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 7,441,183 shares, a decline of 17.3% from the September 15th total of 9,001,406 shares. Based on an average trading volume of 2,282,645 shares, the short-interest ratio is currently 3.3 days. Currently, 3.4% of the shares of the stock are short sold.
In other news, SVP Andrew Anagnost sold 4,525 shares of the business’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $70.00, for a total transaction of $316,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Crawford W. Beveridge sold 7,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $67.58, for a total value of $473,060.00. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in Autodesk by 15.5% in the first quarter. IFP Advisors Inc now owns 1,715 shares of the software company’s stock valued at $100,000 after buying an additional 230 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Autodesk during the first quarter valued at about $109,000. Howard Hughes Medical Institute purchased a new position in Autodesk during the second quarter valued at about $113,000. Bessemer Group Inc. boosted its position in Autodesk by 1,177.2% in the second quarter. Bessemer Group Inc. now owns 2,350 shares of the software company’s stock valued at $127,000 after buying an additional 2,166 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. boosted its position in Autodesk by 71.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,761 shares of the software company’s stock valued at $149,000 after buying an additional 1,154 shares in the last quarter. 97.07% of the stock is owned by institutional investors and hedge funds.
ADSK has been the topic of several research reports. Barclays PLC boosted their price target on Autodesk from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, August 26th. Rosenblatt Securities restated a “sell” rating and set a $54.00 price target on shares of Autodesk in a report on Thursday, August 25th. Cowen and Company boosted their price target on Autodesk from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, August 26th. Evercore ISI initiated coverage on Autodesk in a report on Wednesday, September 14th. They set a “buy” rating and a $80.00 price target on the stock. Finally, Zacks Investment Research upgraded Autodesk from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Autodesk presently has an average rating of “Hold” and a consensus price target of $67.53.
Autodesk (NASDAQ:ADSK) opened at 69.29 on Friday. The stock’s 50 day moving average price is $69.49 and its 200 day moving average price is $61.06. The firm’s market capitalization is $15.37 billion. Autodesk has a one year low of $41.60 and a one year high of $73.40.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 25th. The software company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.18. Autodesk had a negative net margin of 15.05% and a negative return on equity of 5.95%. The business earned $550.70 million during the quarter, compared to analysts’ expectations of $511.49 million. During the same period in the prior year, the company earned $0.19 earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. Analysts expect that Autodesk will post ($0.60) EPS for the current year.
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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