Autodesk, Inc. (ADSK) Short Interest Down 27.5% in May

Autodesk, Inc. (NASDAQ:ADSK) saw a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 5,415,429 shares, a drop of 27.5% from the May 15th total of 7,469,253 shares. Based on an average daily trading volume, of 3,487,794 shares, the short-interest ratio is presently 1.6 days. Approximately 2.5% of the shares of the company are short sold.

A number of analysts have recently weighed in on ADSK shares. Robert W. Baird started coverage on Autodesk in a research report on Tuesday, February 28th. They set an “outperform” rating and a $100.00 price target on the stock. Wedbush lowered their target price on Autodesk from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, March 3rd. Canaccord Genuity reiterated a “buy” rating and set a $100.00 price target (up from $95.00) on shares of Autodesk in a research report on Friday, March 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $87.00 price target (up from $84.00) on shares of Autodesk in a research report on Friday, March 3rd. Finally, Griffin Securities lifted their price target on Autodesk from $94.00 to $99.00 and gave the company a “buy” rating in a research report on Friday, March 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $103.94.

Shares of Autodesk (NASDAQ:ADSK) opened at 104.88 on Friday. Autodesk has a one year low of $49.82 and a one year high of $114.68. The company’s 50 day moving average price is $103.52 and its 200 day moving average price is $87.84. The stock’s market capitalization is $23.11 billion.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.08. The firm had revenue of $485.70 million during the quarter, compared to analyst estimates of $470.27 million. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) EPS. On average, analysts expect that Autodesk will post ($0.57) earnings per share for the current fiscal year.

In other Autodesk news, VP Paul D. Underwood sold 6,490 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $111.93, for a total transaction of $726,425.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Steven M. Blum sold 6,638 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $112.71, for a total value of $748,168.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,979 shares of company stock worth $13,775,470. 6.10% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in Autodesk by 20.1% in the fourth quarter. FMR LLC now owns 26,573,101 shares of the software company’s stock worth $1,966,674,000 after buying an additional 4,455,916 shares in the last quarter. Baird Financial Group Inc. increased its position in Autodesk by 1.0% in the fourth quarter. Baird Financial Group Inc. now owns 2,838 shares of the software company’s stock worth $210,000 after buying an additional 29 shares in the last quarter. Tredje AP fonden increased its position in Autodesk by 3.0% in the fourth quarter. Tredje AP fonden now owns 6,448 shares of the software company’s stock worth $477,000 after buying an additional 188 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Autodesk by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 304,632 shares of the software company’s stock worth $22,549,000 after buying an additional 12,788 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in Autodesk during the fourth quarter worth approximately $216,000. Institutional investors own 97.61% of the company’s stock.

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Autodesk Company Profile

Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).

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