Autodesk Target of Unusually Large Options Trading (ADSK)
Autodesk, Inc. (NASDAQ:ADSK) saw some unusual options trading on Thursday. Stock investors bought 13,973 put options on the stock. This represents an increase of 858% compared to the typical volume of 1,459 put options.
A number of equities analysts have issued reports on ADSK shares. Evercore ISI reiterated an “outperform” rating and set a $115.00 price target on shares of Autodesk in a research note on Wednesday, June 21st. Cowen and Company reiterated a “buy” rating and set a $115.00 price target on shares of Autodesk in a research note on Friday, August 18th. Berenberg Bank started coverage on Autodesk in a research note on Wednesday, August 23rd. They set a “buy” rating and a $136.00 price target for the company. Canaccord Genuity reiterated a “buy” rating and set a $125.00 price target (up previously from $120.00) on shares of Autodesk in a research note on Friday. Finally, BidaskClub downgraded Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $113.19.
In other news, SVP Steven M. Blum sold 6,638 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $112.71, for a total value of $748,168.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Scott Herren sold 35,595 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were 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. Over the last 90 days, insiders sold 167,705 shares of company stock valued at $17,590,771. 6.10% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in ADSK. Bank of Montreal Can increased its stake in Autodesk by 43.4% in the first quarter. Bank of Montreal Can now owns 103,597 shares of the software company’s stock valued at $8,958,000 after buying an additional 31,331 shares during the period. DnB Asset Management AS increased its stake in shares of Autodesk by 8.2% in the first quarter. DnB Asset Management AS now owns 19,828 shares of the software company’s stock worth $1,715,000 after buying an additional 1,500 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Autodesk during the first quarter worth about $257,000. Candriam Luxembourg S.C.A. increased its stake in shares of Autodesk by 37.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 12,328 shares of the software company’s stock worth $1,066,000 after buying an additional 3,339 shares during the period. Finally, Nationwide Fund Advisors increased its stake in shares of Autodesk by 3.0% in the first quarter. Nationwide Fund Advisors now owns 106,476 shares of the software company’s stock worth $9,207,000 after buying an additional 3,082 shares during the period. 94.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Autodesk (NASDAQ:ADSK) opened at 111.48 on Tuesday. The company’s market cap is $24.47 billion. Autodesk has a 12-month low of $65.06 and a 12-month high of $119.73. The company has a 50 day moving average of $109.09 and a 200-day moving average of $97.98.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. The business had revenue of $501.80 million for the quarter, compared to the consensus estimate of $493.98 million. Autodesk had a negative net margin of 30.01% and a negative return on equity of 51.29%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Equities research analysts anticipate that Autodesk will post ($0.54) earnings per share for the current year.
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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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