Short Interest in Autodesk, Inc. (NASDAQ:ADSK) Declines By 16.2%

Autodesk, Inc. (NASDAQ:ADSK) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 2,220,000 shares, a decline of 16.2% from the March 31st total of 2,650,000 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 1,510,000 shares, the short-interest ratio is currently 1.5 days.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $264.74, for a total transaction of $145,607.00. Following the sale, the director now directly owns 38,766 shares in the company, valued at approximately $10,262,910.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $264.74, for a total transaction of $145,607.00. Following the completion of the transaction, the director now directly owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the transaction, the executive vice president now directly owns 13,620 shares of the company’s stock, valued at $3,425,974.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,166 shares of company stock worth $9,465,055. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC boosted its holdings in shares of Autodesk by 21.5% in the fourth quarter. VisionPoint Advisory Group LLC now owns 237 shares of the software company’s stock valued at $58,000 after buying an additional 42 shares during the period. Bouvel Investment Partners LLC boosted its holdings in shares of Autodesk by 0.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock valued at $2,864,000 after buying an additional 44 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Autodesk by 3.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock valued at $306,000 after buying an additional 45 shares during the period. Goodman Advisory Group LLC boosted its holdings in shares of Autodesk by 0.4% in the fourth quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock valued at $2,770,000 after buying an additional 49 shares during the period. Finally, Epic Trust Investment Advisors LLC boosted its holdings in shares of Autodesk by 3.7% in the fourth quarter. Epic Trust Investment Advisors LLC now owns 1,360 shares of the software company’s stock valued at $331,000 after buying an additional 49 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADSK. Citigroup boosted their target price on shares of Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Barclays boosted their target price on shares of Autodesk from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Mizuho boosted their target price on shares of Autodesk from $220.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. KeyCorp boosted their target price on shares of Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of Autodesk in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $272.44.

Autodesk Stock Up 0.7 %

Shares of NASDAQ ADSK opened at $217.93 on Friday. The stock has a market cap of $46.62 billion, a P/E ratio of 51.76, a P/E/G ratio of 2.97 and a beta of 1.43. The firm has a 50 day moving average price of $247.53 and a 200 day moving average price of $235.47. 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 $188.38 and a 52-week high of $279.53.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. Analysts expect that Autodesk will post 5.38 EPS for the current year.

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.