Stock On Watch: Autodesk, Inc. Sets 52-Week High; Strong Momentum for Holders

Stock On Watch: Autodesk, Inc. Sets 52 Week High; Strong Momentum for Holders

The stock of Autodesk, Inc. (NASDAQ:ADSK) hit a new 52-week high and has $91.11 target or 25.00% above today’s $72.89 share price. The 6 months bullish chart indicates low risk for the $16.33 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $91.11 price target is reached, the company will be worth $4.08 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.01M shares traded hands or 30.52% 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. $100 is the highest target while $45 is the lowest. The $68.13 average target is -6.53% below today’s ($72.89) stock price. Autodesk Inc. has been the topic of 57 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was maintained by Canaccord Genuity with “Hold” on Friday, August 26. The rating was maintained by Citigroup on Monday, August 31 with “Neutral”. The rating was maintained by Wedbush with “Neutral” on Friday, May 20. The stock has “Neutral” rating given by Mitsubishi UFJ on Tuesday, February 9. The rating was downgraded by Canaccord Genuity on Tuesday, November 10 to “Hold”. The rating was maintained by RBC Capital Markets on Thursday, February 4 with “Sector Perform”. Rosenblatt downgraded Autodesk, Inc. (NASDAQ:ADSK) on Tuesday, August 30 to “Sell” rating. The stock of Autodesk, Inc. (NASDAQ:ADSK) has “Underweight” rating given on Monday, August 29 by Mitsubishi UFJ. Rosenblatt downgraded Autodesk, Inc. (NASDAQ:ADSK) rating on Tuesday, November 10. Rosenblatt has “Neutral” rating and $54 price target. The stock has “Outperform” rating given by Credit Suisse 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 Q2 2016. Its down 0.18, from 1.05 in 2016Q1. The ratio fall, 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.
Hmi Cap Ltd Liability Corporation has 1.24 million shares for 12.7% of their US portfolio. Commonwealth Financial Bank Of has 0% invested in the company for 1,540 shares. Commonwealth Of Pennsylvania Public School Empls Retrmt Systems holds 0.02% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK) for 17,982 shares. Raymond James & Associates has invested 0.11% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK). Blackrock Inc owns 418,678 shares or 0.03% of their US portfolio. Moreover, Los Angeles Management Equity has 0.14% invested in Autodesk, Inc. (NASDAQ:ADSK) for 296,232 shares. Janus Mgmt Limited Liability Company has invested 0% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK). Hsbc Holdg Public Ltd Com reported 92,847 shares or 0.01% of all its holdings. Supplemental Annuity Collective Of Nj, a New Jersey-based fund reported 6,000 shares. Sg Americas Securities Limited Liability Com has invested 0.01% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK). Soroban Partners Limited Partnership holds 3.44% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK) for 10.34 million shares. Ballentine Ltd Liability Com last reported 0.03% of its portfolio in the stock. Eagle Asset Management owns 345,384 shares or 0.13% of their US portfolio. Robeco Institutional Asset Mngmt Bv owns 13,585 shares or 0.01% of their US portfolio. American Century Cos holds 0% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK) for 4,539 shares.

Insider Transactions: Since May 26, 2016, the stock had 0 insider purchases, and 17 insider sales for $9.29 million net activity. BEVERIDGE CRAWFORD W also sold $351,780 worth of Autodesk, Inc. (NASDAQ:ADSK) shares. NORRINGTON LORRIE M had sold 5,000 shares worth $280,000. The insider BASS CARL sold 26,209 shares worth $1.47M. The insider Blum Steven M sold $660,000. On Wednesday, July 27 the insider Di Fronzo Pascal W sold $23,784. BECKER JAN sold $738,624 worth of Autodesk, Inc. (NASDAQ:ADSK) on Monday, October 3. $1.19 million worth of Autodesk, Inc. (NASDAQ:ADSK) shares were sold by Hanspal Amarpreet.

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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