Autodesk, Inc. (NASDAQ:ADSK) Short Interest Down 5.2% in December

Autodesk, Inc. (NASDAQ:ADSK) saw a significant drop in short interest in 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. Based on an average daily trading volume, of 1,430,000 shares, the short-interest ratio is presently 2.0 days. Approximately 1.4% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several research reports. Robert W. Baird lifted their price objective on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Morgan Stanley boosted their target price on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. KeyCorp boosted their target price on shares of Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Macquarie started coverage on shares of Autodesk in a research note on Thursday, December 12th. They set an “outperform” rating and a $380.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $326.05.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now owns 30,249 shares in the company, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ADSK. Livelsberger Financial Advisory purchased a new position in shares of Autodesk during the third quarter worth $27,000. Concord Wealth Partners purchased a new position in Autodesk in the third quarter valued at $28,000. Transcendent Capital Group LLC purchased a new position in Autodesk in the third quarter valued at $28,000. Central Pacific Bank Trust Division purchased a new position in Autodesk in the fourth quarter valued at $37,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Autodesk by 3,625.0% in the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock valued at $41,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

Shares of ADSK opened at $291.45 on Friday. The company has a market cap of $62.66 billion, a price-to-earnings ratio of 57.83, a price-to-earnings-growth ratio of 3.36 and a beta of 1.42. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $300.44 and a two-hundred day moving average of $275.39.

Autodesk (NASDAQ:ADSK) 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 during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $1.33 earnings per share. As a group, analysts predict that Autodesk will post 5.76 earnings per share for the current fiscal 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.