The stock of Autodesk, Inc. (NASDAQ:ADSK) reached all time high today, Nov, 9 and still has $114.76 target or 58.00% above today’s $72.63 share price. This indicates more upside for the $16.27B company. This technical setup was reported by Barchart.com. If the $114.76 PT is reached, the company will be worth $9.44B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock decreased 0.08% or $0.06 during the last trading session, hitting $72.63. About 3.06 million shares traded hands or 98.70% up from the average. Autodesk, Inc. (NASDAQ:ADSK) has risen 28.91% since April 7, 2016 and is uptrending. It has outperformed by 24.12% the S&P500.
Autodesk, Inc. (NASDAQ:ADSK) Ratings Coverage
Out of 18 analysts covering Autodesk Inc. (NASDAQ:ADSK), 8 rate it a “Buy”, 4 “Sell”, while 6 “Hold”. This means 44% are positive. Autodesk Inc. has been the topic of 57 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was maintained by Wedbush with “Neutral” on Friday, May 20. The firm has “Equal-Weight” rating given on Tuesday, November 10 by Morgan Stanley. William Blair maintained the shares of ADSK in a report on Friday, August 28 with “Outperform” rating. The rating was initiated by Evercore with “Buy” on Thursday, September 15. The firm has “Neutral” rating given on Monday, November 9 by UBS. On Friday, August 26 the stock rating was maintained by Canaccord Genuity with “Hold”. Zacks downgraded the stock to “Sell” rating in Wednesday, September 2 report. The company was downgraded on Tuesday, August 30 by Rosenblatt. As per Thursday, May 12, the company rating was maintained by Wedbush. The stock has “Outperform” rating given by Cowen & Co on Monday, August 31.
According to Zacks Investment Research, “Autodesk is one of the world’s leading design software and digital content companies for architectural design and land development, manufacturing, utilities, telecommunications, and media and entertainment. Autodesk provides design software, Internet portal services, wireless development platforms, and point-of-location applications that empower customers in numerous countries to drive business and remain competitive. (Company Press Release)”
Insitutional Activity: The institutional sentiment decreased to 0.87 in 2016 Q2. Its down 0.18, from 1.05 in 2016Q1. The ratio worsened, as 47 funds sold all Autodesk, Inc. shares owned while 146 reduced positions. 33 funds bought stakes while 134 increased positions. They now own 211.46 million shares or 2.35% less from 216.56 million shares in 2016Q1.
Federated Inc Pa accumulated 0% or 5,192 shares. Voya Invest Mgmt Ltd Limited Liability Company accumulated 0.02% or 144,663 shares. Massmutual Trust Fsb Adv has 0% invested in the company for 5,817 shares. Lmr Ltd Liability Partnership holds 0.3% or 36,270 shares in its portfolio. Rafferty Asset Ltd Liability has invested 0.04% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK). Moreover, Paloma Prns Mngmt Co has 0.02% invested in Autodesk, Inc. (NASDAQ:ADSK) for 33,942 shares. Sumitomo Mitsui Tru Hldgs holds 0.06% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK) for 594,246 shares. Dimensional Fund Advsr L P last reported 296,785 shares in the company. Earnest Partners Ltd Liability Com holds 0.44% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK) for 753,945 shares. Barclays Public Limited Co accumulated 118,872 shares or 0.01% of the stock. Moreover, Daiwa Secs Grp has 0% invested in Autodesk, Inc. (NASDAQ:ADSK) for 5,500 shares. Chevy Chase Tru has invested 0.06% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK). Tokio Marine Asset Mgmt Com Limited last reported 0.04% of its portfolio in the stock. Iridian Asset Mgmt Ltd Co Ct has 1.23% invested in the company for 2.45M shares. The United Kingdom-based Hsbc Public Limited Liability Corporation has invested 0.01% in Autodesk, Inc. (NASDAQ:ADSK).
Insider Transactions: Since May 26, 2016, the stock had 0 insider buys, and 17 sales for $9.29 million net activity. The insider BECKER JAN sold 10,330 shares worth $738,624. 6,000 shares were sold by BEVERIDGE CRAWFORD W, worth $351,780. Another trade for 4,416 shares valued at $299,405 was sold by RAFAEL BETSY. Another trade for 26,209 shares valued at $1.47M was sold by BASS CARL. On Monday, October 3 the insider Di Fronzo Pascal W sold $15,388. 10,000 Autodesk, Inc. (NASDAQ:ADSK) shares with value of $660,000 were sold by Blum Steven M. On Monday, August 15 the insider Hanspal Amarpreet sold $1.19M.
Another recent and important Autodesk, Inc. (NASDAQ:ADSK) news was published by Businesswire.com which published an article titled: “Autodesk Extends Invitation to Join Financial Results Conference Call” on November 01, 2016.
ADSK Company Profile
Autodesk, Inc. (Autodesk), incorporated on May 10, 1994, is a design software and services company, offering clients productive business solutions through technology services and products. The Firm serves clients in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries. The Firm operates in four divisions: Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E). The Company’s software products enable its clients to experience their ideas before they are real by allowing them to imagine, design and create their ideas and to visualize, simulate and analyze real-world performance early in the design process by creating digital prototypes.
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