Autodesk, Inc. (NASDAQ:ADSK) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 4,652,400 shares, a drop of 12.8% from the May 30th total of 5,334,500 shares. Approximately 2.1% of the company’s shares are short sold. Based on an average daily volume of 1,700,000 shares, the days-to-cover ratio is currently 2.7 days.
Shares of ADSK stock opened at $174.19 on Friday. The company has a market capitalization of $38.07 billion, a P/E ratio of 1,583.55, a P/E/G ratio of 2.74 and a beta of 1.81. The business has a 50 day simple moving average of $165.13. Autodesk has a fifty-two week low of $117.72 and a fifty-two week high of $178.95.
Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, May 23rd. The software company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). The business had revenue of $735.50 million during the quarter, compared to the consensus estimate of $740.14 million. Autodesk had a negative return on equity of 26.61% and a negative net margin of 0.82%. The company’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, sell-side analysts expect that Autodesk will post 1.66 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on the company. Wedbush set a $79.00 price objective on Aimmune Therapeutics and gave the stock a “buy” rating in a research report on Friday, May 24th. Mizuho set a $75.00 price objective on Starbucks and gave the stock a “buy” rating in a research report on Thursday, April 11th. Credit Suisse Group raised their price objective on Conagra Brands from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. BidaskClub upgraded ZIOPHARM Oncology from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 17th. Finally, Griffin Securities restated a “buy” rating and set a $193.00 price objective (up from $188.00) on shares of Autodesk in a research report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. Autodesk has a consensus rating of “Buy” and a consensus price target of $172.31.
In other news, Director Betsy Rafael sold 2,039 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $157.83, for a total transaction of $321,815.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Anagnost sold 2,434 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $169.47, for a total value of $412,489.98. The disclosure for this sale can be found here. Insiders sold 6,773 shares of company stock valued at $1,109,297 over the last quarter. Corporate insiders own 0.12% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. FMR LLC grew its stake in Autodesk by 2.2% in the first quarter. FMR LLC now owns 9,039,419 shares of the software company’s stock valued at $1,408,523,000 after acquiring an additional 190,871 shares during the period. Geode Capital Management LLC grew its stake in Autodesk by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 2,869,972 shares of the software company’s stock valued at $368,471,000 after acquiring an additional 214,397 shares during the period. Northern Trust Corp grew its stake in Autodesk by 0.6% in the first quarter. Northern Trust Corp now owns 2,612,677 shares of the software company’s stock valued at $407,106,000 after acquiring an additional 14,972 shares during the period. Norges Bank acquired a new stake in Autodesk in the fourth quarter valued at approximately $302,827,000. Finally, Egerton Capital UK LLP grew its stake in Autodesk by 30.4% in the first quarter. Egerton Capital UK LLP now owns 2,228,779 shares of the software company’s stock valued at $347,288,000 after acquiring an additional 519,100 shares during the period. 92.96% of the stock is owned by hedge funds and other institutional investors.
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
See Also: Understanding Options Trading
Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.