The stock of Autodesk, Inc. (NASDAQ:ADSK) reached all time high today, Sep, 30 and still has $90.93 target or 27.00% above today’s $71.60 share price. This indicates more upside for the $15.66 billion company. This technical setup was reported by Barchart.com. If the $90.93 PT is reached, the company will be worth $4.23 billion 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. About 105,629 shares traded hands. Autodesk, Inc. (NASDAQ:ADSK) has risen 39.85% since February 26, 2016 and is uptrending. It has outperformed by 29.43% 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 stock of Autodesk, Inc. (NASDAQ:ADSK) has “Buy” rating given on Thursday, August 20 by Cowen & Co. William Blair maintained the shares of ADSK in a report on Friday, August 28 with “Outperform” rating. The rating was maintained by Canaccord Genuity with “Hold” on Friday, May 20. Morgan Stanley downgraded the stock to “Equal-Weight” rating in Tuesday, November 10 report. The firm earned “Neutral” rating on Monday, November 9 by UBS. The stock of Autodesk, Inc. (NASDAQ:ADSK) has “Sector Perform” rating given on Friday, December 4 by RBC Capital Markets. RBC Capital Markets maintained Autodesk, Inc. (NASDAQ:ADSK) on Friday, August 28 with “Outperform” rating. The company was maintained on Friday, August 26 by UBS. Zacks downgraded the shares of ADSK in a report on Wednesday, September 2 to “Sell” rating. The firm has “Buy” rating by Rosenblatt given on Wednesday, October 7.
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 dropped, 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.
Sachem Head Capital Management Lp holds 30.9% of its portfolio in Autodesk, Inc. for 12.89 million shares. Eminence Capital Lp owns 13.19 million shares or 14.46% of their US portfolio. Moreover, Hmi Capital Llc has 12.7% invested in the company for 1.24 million shares. The New York-based Blue Ridge Capital L.L.C. has invested 6.99% in the stock. Lateef Investment Management L.P., a California-based fund reported 2.47 million shares.
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 16 selling transactions for $9.87 million net activity.
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