The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Autodesk Inc. shares valued at $18,727 were sold by Hope Stephen W. on Apr 02 ’24. At $249.69 per share, Hope Stephen W. sold 75 shares. The insider’s holdings dropped to 3,450 shares worth approximately $0.82 million following the completion of this transaction.
Also, Anagnost Andrew sold 21,053 shares, netting a total of over 5,473,609 in proceeds. Following the sale of shares at $259.99 each, the insider now holds 105,213 shares.
Before that, Clifford Deborah had sold 5,553 shares from its account. In a trade valued at $1,443,821, the EVP, Chief Financial Officer traded Autodesk Inc. shares for $260.01 each. Upon closing the transaction, the insider’s holdings decreased to 5,553 shares, worth approximately $7.71 million.
As published in a research note from Piper Sandler on November 22, 2023, Autodesk Inc. [ADSK] has been rated down from an Overweight to a Neutral and the price target has been revised to $215 from $240. Analysts at HSBC Securities started covering the stock with ‘”a Hold”‘ outlook in a report released in late September. As of May 24, 2023, BMO Capital Markets has initiated its “Market perform” rating for ADSK. Earlier on April 17, 2023, William Blair initiated its rating. Their recommendation was “an Outperform” for ADSK stock.
Analyzing ADSK Stock Performance
During the last five days, there has been a drop of approximately -2.99%. Over the course of the year, Autodesk Inc. shares have dropped approximately -1.84%. Shares of the company reached a 52-week high of $279.53 on 03/01/24 and a 52-week low of $225.45 on 01/04/24. A 50-day SMA is recorded $256.23, while a 200-day SMA reached $226.40. Nevertheless, trading volume fell to 1.28 million shares from 0.84 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 236.67, which, if violated, would cause prices to drop to 234.34. In the upper region, resistance lies at 242.77. The next price resistance is at 246.54. RSI (Relative Strength Index) is 32.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.31, which suggests the price will decrease in the coming days. Percent R is at 97.05%, 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 rise in short interest on Mar 28, 2024 jumping by 0.35 million shares to 2.65 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 2.3 million shares. A jump of 13.21% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.73 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.73.
