Autodesk, Inc. (NASDAQ:ADSK) Short Interest Up 14.9% in June

Autodesk, Inc. (NASDAQ:ADSK) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,550,000 shares, an increase of 14.9% from the May 31st total of 2,220,000 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average daily volume of 2,190,000 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler reiterated a “neutral” rating and issued a $239.00 price objective on shares of Autodesk in a research report on Wednesday, June 12th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price objective on shares of Autodesk in a research report on Tuesday, June 18th. Barclays cut their price objective on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Stifel Nicolaus lowered their target price on Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, Citigroup boosted their price target on Autodesk from $286.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Autodesk presently has an average rating of “Hold” and a consensus target price of $262.42.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $235.00, for a total transaction of $129,250.00. Following the transaction, the director now owns 31,566 shares in the company, valued at $7,418,010. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Autodesk news, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the transaction, the director now directly owns 32,116 shares in the company, valued at $7,264,960.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the transaction, the director now directly owns 31,566 shares of the company’s stock, valued at $7,418,010. The disclosure for this sale can be found here. Insiders sold a total of 19,138 shares of company stock valued at $4,339,111 over the last three months. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Autodesk in the fourth quarter valued at approximately $25,000. Concord Wealth Partners acquired a new position in shares of Autodesk during the 1st quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new stake in Autodesk during the 1st quarter valued at $25,000. LRI Investments LLC bought a new position in Autodesk during the first quarter worth $26,000. Finally, Bfsg LLC acquired a new position in shares of Autodesk in the fourth quarter valued at $27,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Trading Up 1.5 %

NASDAQ ADSK opened at $247.45 on Monday. Autodesk has a 12 month low of $192.01 and a 12 month high of $279.53. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. The stock has a 50 day moving average of $221.13 and a 200-day moving average of $239.12. The company has a market cap of $53.33 billion, a PE ratio of 53.56, a PEG ratio of 3.31 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.55 earnings per share. On average, equities research analysts anticipate that Autodesk will post 5.55 EPS for the current fiscal year.

About Autodesk

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.