Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Autodesk Inc. shares valued at $88,728 were sold by Hope Stephen W. on Sep 06. At $200.29 per share, Hope Stephen W. sold 443 shares. The insider’s holdings dropped to 3,743 shares worth approximately $0.72 million following the completion of this transaction.
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Also, Anagnost Andrew sold 34,366 shares, netting a total of over 7,109,155 in proceeds. Following the sale of shares at $206.87 each, the insider now holds 76,968 shares.
Before that, Hope Stephen W. had sold 327 shares from its account. In a trade valued at $58,020, the VP & Chief Accounting Officer traded Autodesk Inc. shares for $177.43 each. Upon closing the transaction, the insider’s holdings decreased to 327 shares, worth approximately $0.81 million.
As published in a research note from JP Morgan on September 16, 2022, Autodesk Inc. [ADSK] has been rated down from an Overweight to a Neutral and the price target has been revised to $203 from $267. This represents a 5.21% premium over Wednesday’s closing price. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid August. As of July 27, 2022, Oppenheimer has initiated its “an Outperform” rating for ADSK.
Analyzing ADSK’s Price Performance
On Wednesday, Autodesk Inc. [NASDAQ: ADSK] plunged -1.31% to $192.42. The stock’s lowest price that day was $191.94, but it reached a high of $201.22 in the same session. During the last five days, there has been a drop of approximately -7.72%. Over the course of the year, Autodesk Inc. shares have dropped approximately -31.57%. Shares of the company reached a 52-week high of $284.96 on 01/03/22 and a 52-week low of $163.20 on 06/16/22. A 50-day SMA is recorded $207.66, while a 200-day SMA reached $215.32. Nevertheless, trading volume fell to 1.19 million shares from 0.85 million shares the previous day.
Support And Resistance Levels for Autodesk Inc. (ADSK)
According to the 24-hour chart, there is a support level at 189.17, which, if violated, would cause prices to drop to 185.91. In the upper region, resistance lies at 198.45. The next price resistance is at 204.47. RSI (Relative Strength Index) is 36.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.03, which suggests the price will decrease in the coming days. Percent R is at 97.65%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Autodesk Inc. subject to short interest?
Stocks of Autodesk Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.56 million shares to 2.66 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.22 million shares. A decline of -21.05% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.6 of the overall float, the days-to-cover ratio (short ratio) decline to 1.6.
Which companies own the most shares of Autodesk Inc. (ADSK)?
According to The Vanguard Group, Inc. filings, the company currently owns 17,073,575 shares, which is about 7.86% of the total ADSK shares outstanding. The investor’s shares have appreciated by 21,133 from its previous 13-F filing of 17052442.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $2,043,881,805. SSgA Funds Management, Inc. reduced a -3.02% interest valued at $1.7 billion while Polen Capital Management LLC sold a -228,722 stake. A total of -785,575 shares of Autodesk Inc. were sold by Loomis, Sayles & Co. LP during the quarter, and 1,779,890 were bought by Norges Bank Investment Management. In its current portfolio, Aristotle Capital Management LLC holds 5,282,642 shares valued at $1.07 billion.
In terms of Autodesk Inc. share price expectations, FactSet research, analysts set an average price target of $253.76 in the next 12 months, up nearly 31.82% from the previous closing price of $194.97. Analysts anticipate Autodesk Inc. stock to reach $355.00 by 2022, with the lowest price target being $185.00. In spite of this, 24 analysts ranked Autodesk Inc. stock as an Overweight at the end of 2022. On May 23, 2022, Deutsche Bank assigned a price target of “a Hold” to the stock and downgraded coverage with a $225.