Autodesk Sees Unusually Large Options Volume (ADSK)
Autodesk, Inc. (NASDAQ:ADSK) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 23,659 put options on the stock. This is an increase of approximately 1,120% compared to the typical daily volume of 1,940 put options.
In other Autodesk news, SVP Fronzo Pascal W. Di sold 580 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $110.91, for a total value of $64,327.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 5,738 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $128.14, for a total value of $735,267.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,523 shares of company stock worth $7,218,659. Corporate insiders own 6.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its stake in shares of Autodesk by 4.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock worth $121,000 after acquiring an additional 44 shares in the last quarter. Cable Hill Partners LLC boosted its stake in shares of Autodesk by 276.7% during the 3rd quarter. Cable Hill Partners LLC now owns 1,292 shares of the software company’s stock worth $145,000 after acquiring an additional 949 shares in the last quarter. Harfst & Associates Inc. purchased a new stake in shares of Autodesk during the 2nd quarter worth approximately $150,000. IFP Advisors Inc boosted its stake in shares of Autodesk by 9.3% during the 2nd quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock worth $171,000 after acquiring an additional 145 shares in the last quarter. Finally, Cedar Capital LLC purchased a new stake in shares of Autodesk during the 3rd quarter worth approximately $207,000. Institutional investors own 95.85% of the company’s stock.
Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 28th. The software company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. Autodesk had a negative return on equity of 75.04% and a negative net margin of 28.46%. The company had revenue of $515.30 million for the quarter, compared to analysts’ expectations of $513.63 million. During the same quarter in the previous year, the firm posted ($0.18) EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. equities analysts predict that Autodesk will post -1.38 EPS for the current fiscal year.
ADSK has been the topic of a number of research reports. Cowen reissued a “buy” rating and issued a $115.00 price objective on shares of Autodesk in a report on Friday, August 18th. Berenberg Bank initiated coverage on Autodesk in a report on Wednesday, August 23rd. They issued a “buy” rating and a $136.00 price target for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $125.00 price target (up previously from $120.00) on shares of Autodesk in a report on Friday, August 25th. Deutsche Bank set a $140.00 price target on Autodesk and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $135.00 price target on shares of Autodesk in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $130.10.
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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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