Autodesk, Inc. (NASDAQ:ADSK) Short Interest Update

Autodesk, Inc. (NASDAQ:ADSK) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,210,000 shares, a growth of 19.3% from the February 28th total of 2,690,000 shares. Based on an average daily volume of 1,640,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ADSK shares. Rosenblatt Securities reiterated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research report on Tuesday, February 25th. Bank of America boosted their target price on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. DA Davidson raised their price target on Autodesk from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, February 28th. UBS Group increased their target price on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Scotiabank reduced their price target on shares of Autodesk from $360.00 to $315.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.29.

Autodesk Price Performance

NASDAQ ADSK opened at $257.15 on Friday. The stock’s fifty day moving average price is $281.22 and its 200 day moving average price is $288.21. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $54.77 billion, a price-to-earnings ratio of 51.02, a PEG ratio of 2.94 and a beta of 1.51.

Insider Transactions at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 2,452 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $267.29, for a total value of $655,395.08. Following the sale, the chief accounting officer now owns 3,003 shares in the company, valued at $802,671.87. The trade was a 44.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John T. Cahill acquired 2,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $267.10 per share, with a total value of $534,200.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $534,200. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Hedge funds and other institutional investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB raised its position in Autodesk by 2.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 4,119 shares of the software company’s stock valued at $1,078,000 after acquiring an additional 85 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Autodesk by 13.4% during the 4th quarter. Wellington Management Group LLP now owns 297,917 shares of the software company’s stock valued at $88,055,000 after purchasing an additional 35,194 shares in the last quarter. DSG Capital Advisors LLC acquired a new position in shares of Autodesk in the 4th quarter valued at $877,000. 111 Capital purchased a new stake in Autodesk during the fourth quarter worth $1,720,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Autodesk by 98.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,604 shares of the software company’s stock valued at $9,932,000 after buying an additional 16,665 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.