Autodesk, Inc. (NASDAQ:ADSK) Short Interest Down 11.3% in April

Autodesk, Inc. (NASDAQ:ADSKGet Free Report) was the target of a large drop in short interest in April. As of April 30th, there was short interest totalling 1,970,000 shares, a drop of 11.3% from the April 15th total of 2,220,000 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ADSK shares. Piper Sandler raised their price target on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. The Goldman Sachs Group lifted their price target on Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a research report on Friday, March 1st. KeyCorp increased their price objective on Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Oppenheimer boosted their target price on shares of Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets boosted their price objective on shares of Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Autodesk presently has an average rating of “Hold” and a consensus target price of $274.67.

Get Our Latest Research Report on ADSK

Autodesk Stock Down 0.5 %

Shares of NASDAQ ADSK opened at $216.65 on Tuesday. The business has a fifty day moving average of $239.02 and a two-hundred day moving average of $236.16. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. Autodesk has a 52-week low of $191.26 and a 52-week high of $279.53. The stock has a market cap of $46.68 billion, a PE ratio of 51.46, a PEG ratio of 2.99 and a beta of 1.45.

Autodesk (NASDAQ:ADSKGet Free Report) last released its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 earnings per share. As a group, equities research analysts expect that Autodesk will post 5.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the sale, the chief accounting officer now directly owns 3,450 shares in the company, valued at $898,621.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the transaction, the chief executive officer now owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the sale, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,166 shares of company stock worth $9,465,055. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently bought and sold shares of ADSK. Concord Wealth Partners bought a new stake in shares of Autodesk during the first quarter worth $25,000. Ables Iannone Moore & Associates Inc. bought a new stake in Autodesk during the 4th quarter worth about $25,000. Bfsg LLC acquired a new stake in Autodesk in the 4th quarter valued at about $27,000. Eagle Bay Advisors LLC raised its stake in shares of Autodesk by 217.1% in the first quarter. Eagle Bay Advisors LLC now owns 111 shares of the software company’s stock worth $29,000 after acquiring an additional 76 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of Autodesk during the fourth quarter worth approximately $28,000. 90.24% of the stock is owned by institutional investors and hedge funds.

About Autodesk

(Get Free Report)

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.

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