Autodesk, Inc. (NASDAQ:ADSK) Sees Significant Decrease in Short Interest

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

Autodesk Trading Up 0.5 %

NASDAQ ADSK traded up $1.37 during trading hours on Friday, hitting $291.45. 1,466,123 shares of the company were exchanged, compared to its average volume of 1,115,562. The stock has a 50-day moving average price of $300.44 and a 200 day moving average price of $275.58. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The stock has a market cap of $62.66 billion, a PE ratio of 57.83, a price-to-earnings-growth ratio of 3.36 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 (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business's revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 EPS. Analysts forecast that Autodesk will post 5.76 earnings per share for the current fiscal year.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Friday, November 15th. The shares were 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 of the company's stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of Autodesk

Hedge funds have recently added to or reduced their stakes in the company. Starboard Value LP acquired a new stake in shares of Autodesk in the third quarter valued at about $510,189,000. Point72 Asset Management L.P. raised its holdings in Autodesk by 366.5% in the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company's stock valued at $208,610,000 after acquiring an additional 662,339 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Autodesk by 58,375.5% in the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company's stock valued at $1,564,170,000 after buying an additional 566,826 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Autodesk by 394.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 567,360 shares of the software company's stock worth $156,296,000 after purchasing an additional 452,728 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Autodesk by 818.3% in the 2nd quarter. Marshall Wace LLP now owns 458,337 shares of the software company's stock valued at $113,415,000 after purchasing an additional 408,424 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADSK has been the topic of several research reports. KeyCorp boosted their price target on shares of Autodesk from $325.00 to $330.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Stifel Nicolaus increased their price objective on Autodesk from $340.00 to $360.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Mizuho increased their price target on shares of Autodesk from $260.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, November 27th. Piper Sandler raised shares of Autodesk from a "neutral" rating to an "overweight" rating and raised their price target for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Finally, Rosenblatt Securities upped their price target on shares of Autodesk from $295.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $326.05.

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.