Investors Purchase High Volume of Autodesk Call Options (ADSK)
Autodesk, Inc. (NASDAQ:ADSK) was the recipient of unusually large options trading on Friday. Traders acquired 10,782 call options on the stock. This represents an increase of approximately 555% compared to the average volume of 1,646 call options.
Several research analysts have weighed in on ADSK shares. Evercore ISI reiterated an “outperform” rating and set a $115.00 price objective on shares of Autodesk in a research report on Wednesday, June 21st. Cowen and Company reiterated a “buy” rating and set a $115.00 price objective on shares of Autodesk in a research report on Friday, August 18th. Berenberg Bank started coverage on Autodesk in a research report on Wednesday, August 23rd. They set a “buy” rating and a $136.00 price objective on the stock. Canaccord Genuity reiterated a “buy” rating and set a $125.00 price objective (up previously from $120.00) on shares of Autodesk in a research report on Friday. Finally, BidaskClub cut Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Autodesk presently has a consensus rating of “Buy” and a consensus price target of $111.00.
In other Autodesk news, VP Paul D. Underwood sold 6,490 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $111.93, for a total transaction of $726,425.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 35,595 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $111.84, for a total value of $3,980,944.80. The disclosure for this sale can be found here. Insiders have sold a total of 167,705 shares of company stock worth $17,590,771 in the last quarter. Company insiders own 6.10% of the company’s stock.
A number of large investors have recently modified their holdings of ADSK. Oregon Public Employees Retirement Fund boosted its stake in shares of Autodesk by 147.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 56,914 shares of the software company’s stock valued at $4,921,000 after buying an additional 33,900 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Autodesk by 14.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,928 shares of the software company’s stock valued at $1,463,000 after buying an additional 2,152 shares during the period. Wetherby Asset Management Inc. raised its position in shares of Autodesk by 23.2% in the first quarter. Wetherby Asset Management Inc. now owns 4,096 shares of the software company’s stock valued at $354,000 after buying an additional 772 shares during the period. Russell Investments Group Ltd. raised its position in shares of Autodesk by 488.2% in the first quarter. Russell Investments Group Ltd. now owns 47,357 shares of the software company’s stock valued at $4,095,000 after buying an additional 39,306 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Autodesk by 4.4% in the first quarter. Janney Montgomery Scott LLC now owns 35,936 shares of the software company’s stock valued at $3,107,000 after buying an additional 1,525 shares during the period. 94.26% of the stock is currently owned by institutional investors.
Shares of Autodesk (NASDAQ ADSK) opened at 114.97 on Monday. Autodesk has a 1-year low of $65.06 and a 1-year high of $119.73. The firm’s market capitalization is $25.24 billion. The company has a 50-day moving average price of $109.09 and a 200 day moving average price of $97.98.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 24th. The software company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.05. Autodesk had a negative return on equity of 51.29% and a negative net margin of 30.01%. The company had revenue of $501.80 million for the quarter, compared to analysts’ expectations of $493.98 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, equities research analysts predict that Autodesk will post ($0.54) EPS for the current year.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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