Short Interest in Autodesk, Inc. (NASDAQ:ADSK) Declines By 5.2%

Autodesk, Inc. (NASDAQ:ADSK) saw a large decrease in short interest in January. As of January 15th, there was short interest totalling 2,920,000 shares, a decrease of 5.2% from the December 31st total of 3,080,000 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 1,430,000 shares, the short-interest ratio is presently 2.0 days.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the sale, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after buying an additional 288,931 shares during the period. FMR LLC raised its stake in shares of Autodesk by 0.8% in the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after buying an additional 46,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Autodesk by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after buying an additional 61,785 shares during the period. Principal Financial Group Inc. raised its stake in shares of Autodesk by 12.6% in the third quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after buying an additional 245,816 shares during the period. Finally, Starboard Value LP bought a new stake in shares of Autodesk in the third quarter valued at $510,189,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Stock Up 0.4 %

Shares of NASDAQ:ADSK opened at $311.34 on Monday. The stock has a market cap of $66.94 billion, a price-to-earnings ratio of 61.77, a PEG ratio of 3.59 and a beta of 1.42. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The business’s 50 day moving average is $299.08 and its 200 day moving average is $279.34.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping 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 business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts forecast that Autodesk will post 5.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADSK. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $280.00 to $400.00 in a research report on Tuesday, January 28th. Scotiabank initiated coverage on Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective on the stock. Oppenheimer increased their target price on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays increased their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Citigroup increased their target price on Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $331.50.

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.