Short Interest in Autodesk Rises By 33.2% (ADSK)
Shares of Autodesk (NASDAQ:ADSK) saw a significant growth in short interest during the month of June. As of June 13th, there was short interest totalling 3,599,030 shares, a growth of 33.2% from the May 30th total of 2,701,548 shares, AnalystRatings.Net reports. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,620,865 shares, the days-to-cover ratio is presently 2.2 days.
In other Autodesk news, CFO Mark J. Hawkins sold 8,816 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $55.71, for a total transaction of $491,139.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
ADSK has been the subject of a number of recent research reports. Analysts at Robert W. Baird raised their price target on shares of Autodesk from $56.00 to $60.00 in a research note on Tuesday. Separately, analysts at Cowen and Company raised their price target on shares of Autodesk from $52.00 to $58.00 in a research note on Tuesday. Finally, analysts at Canaccord Genuity raised their price target on shares of Autodesk from $60.00 to $65.00 in a research note on Friday, June 6th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $58.08.
Shares of Autodesk (NASDAQ:ADSK) opened at 56.83 on Thursday. Autodesk has a 52-week low of $33.23 and a 52-week high of $58.68. The stock has a 50-day moving average of $53.59 and a 200-day moving average of $51.15. The company has a market cap of $12.950 billion and a P/E ratio of 64.99.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.11. The company had revenue of $593.00 million for the quarter, compared to the consensus estimate of $568.58 million. On average, analysts predict that Autodesk will post $1.18 earnings per share for the current fiscal year.
Autodesk, Inc (NASDAQ:ADSK) is a design software and services company, offering customers business solutions through technology products and services.
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