Autodesk Sees Unusually High Options Volume (ADSK)

Autodesk, Inc. (NASDAQ:ADSK) was the target of unusually large options trading activity on Wednesday. Investors purchased 31,712 call options on the company. This is an increase of approximately 1,198% compared to the typical daily volume of 2,443 call options.

In related news, CFO Richard Scott Herren sold 5,738 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $128.14, for a total transaction of $735,267.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Fronzo Pascal W. Di sold 580 shares of Autodesk stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $110.91, for a total transaction of $64,327.80. The disclosure for this sale can be found here. Insiders have sold 61,523 shares of company stock worth $7,218,659 in the last ninety days. 6.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ADSK. Parallel Advisors LLC lifted its position in 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 buying an additional 44 shares in the last quarter. Cable Hill Partners LLC lifted its position in 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 buying an additional 949 shares in the last quarter. Harfst & Associates Inc. acquired a new position in Autodesk during the 2nd quarter worth about $150,000. IFP Advisors Inc lifted its position in 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 buying an additional 145 shares in the last quarter. Finally, First Personal Financial Services lifted its position in Autodesk by 896.0% during the 2nd quarter. First Personal Financial Services now owns 2,002 shares of the software company’s stock worth $202,000 after buying an additional 1,801 shares in the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.

Shares of Autodesk (NASDAQ:ADSK) opened at $107.06 on Friday. Autodesk has a 52 week low of $68.06 and a 52 week high of $131.10. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 5.02.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 28th. The software company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. Autodesk had a negative net margin of 28.46% and a negative return on equity of 75.04%. The company had revenue of $515.30 million for the quarter, compared to the consensus estimate of $513.63 million. During the same quarter in the previous year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. research analysts expect that Autodesk will post -1.38 EPS for the current year.

A number of equities research analysts have weighed in on the stock. BidaskClub downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Evercore ISI reiterated a “buy” rating and set a $135.00 price target on shares of Autodesk in a research note on Wednesday, September 20th. UBS reiterated a “buy” rating and set a $140.00 price target on shares of Autodesk in a research note on Wednesday. J P Morgan Chase & Co reiterated a “buy” rating and set a $130.00 price target on shares of Autodesk in a research note on Wednesday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $120.00 price target (up previously from $115.00) on shares of Autodesk in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Autodesk currently has a consensus rating of “Buy” and an average target price of $130.10.

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About Autodesk

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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