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

Autodesk, Inc. (NASDAQ:ADSK) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 3,210,000 shares, a growth of 19.3% from the February 28th total of 2,690,000 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 1,640,000 shares, the days-to-cover ratio is currently 2.0 days.

Insider Transactions at Autodesk

In other Autodesk news, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction on Friday, March 21st. The shares were bought at an average cost of $267.10 per share, for a total transaction of $534,200.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at $534,200. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $267.29, for a total transaction of $655,395.08. Following the completion of the transaction, the chief accounting officer now owns 3,003 shares of the company’s stock, valued at approximately $802,671.87. This trade represents a 44.95 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADSK. Golden State Wealth Management LLC acquired a new position in shares of Autodesk during the 4th quarter worth $25,000. Investment Management Corp VA ADV acquired a new position in Autodesk during the fourth quarter worth about $29,000. Tradewinds Capital Management LLC increased its holdings in Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Autodesk during the 4th quarter valued at approximately $30,000. Finally, Addison Advisors LLC boosted its stake in shares of Autodesk by 157.4% during the 4th quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock worth $36,000 after acquiring an additional 74 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Performance

NASDAQ ADSK opened at $264.61 on Wednesday. The stock has a market capitalization of $56.36 billion, a price-to-earnings ratio of 52.50, a PEG ratio of 2.94 and a beta of 1.51. The business’s 50 day moving average is $282.77 and its two-hundred day moving average is $288.57. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Citigroup dropped their price objective on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Macquarie reaffirmed an “outperform” rating and set a $360.00 price objective on shares of Autodesk in a research report on Friday, February 28th. UBS Group increased their target price on Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Bank of America lifted their price target on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $336.29.

Autodesk Company Profile

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.