Stock of The Day: What’s Autodesk, Inc. Upside After Touching 52-Week High?

Stock of The Day: What's Autodesk, Inc. Upside After Touching 52 Week High?

The stock of Autodesk, Inc. (NASDAQ:ADSK) hit a new 52-week high and has $89.47 target or 24.00% above today’s $72.15 share price. The 6 months bullish chart indicates low risk for the $16.41B company. The 1-year high was reported on Oct, 6 by Barchart.com. If the $89.47 price target is reached, the company will be worth $3.94B 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 89,439 shares traded hands. Autodesk, Inc. (NASDAQ:ADSK) has risen 33.62% since March 3, 2016 and is uptrending. It has outperformed by 25.28% 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 -5.57% below today’s ($72.15) stock price. Autodesk Inc. has been the topic of 57 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Friday, February 26 by RBC Capital Markets. The firm has “Outperform” rating given on Friday, August 26 by Robert W. Baird. Canaccord Genuity maintained it with “Buy” rating and $60 target price in Wednesday, September 30 report. The rating was initiated by Evercore on Thursday, September 15 with “Buy”. The firm has “Outperform” rating given on Friday, August 26 by Cowen & Co. The firm earned “Sell” rating on Tuesday, August 30 by Rosenblatt. The company was maintained on Friday, May 20 by Canaccord Genuity. The stock of Autodesk, Inc. (NASDAQ:ADSK) has “Outperform” rating given on Monday, August 31 by Credit Suisse. The stock of Autodesk, Inc. (NASDAQ:ADSK) earned “Sector Perform” rating by RBC Capital Markets on Thursday, February 4. The stock of Autodesk, Inc. (NASDAQ:ADSK) has “Sector Perform” rating given on Friday, November 20 by RBC Capital Markets.

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 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.
Millennium Limited Liability Corp owns 148,399 shares or 0.02% of their US portfolio. Steadfast Management Ltd Partnership, a New York-based fund reported 1.93 million shares. Moreover, Mutual Of America Cap Management has 0.03% invested in Autodesk, Inc. (NASDAQ:ADSK) for 26,117 shares. Old Mutual Customised Solutions (Proprietary) Ltd owns 3,400 shares or 0.05% of their US portfolio. Moreover, First Allied Advisory Svcs has 0.02% invested in Autodesk, Inc. (NASDAQ:ADSK) for 6,337 shares. Thrivent For Lutherans owns 7,067 shares or 0% of their US portfolio. Blackrock accumulated 0.03% or 418,678 shares. Euclid Advisors Ltd Liability Corp holds 0.07% or 31,610 shares in its portfolio. Whittier Trust holds 0% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK) for 192 shares. Cleararc Capital holds 5,468 shares or 0.06% of its portfolio. Eagle Asset Mngmt, a Florida-based fund reported 345,384 shares. Kbc Group Nv has 0.02% invested in the company for 20,216 shares. Proshare Advsr Limited Liability Corp, a Maryland-based fund reported 91,814 shares. Toronto Dominion Natl Bank holds 0% or 1,123 shares in its portfolio. Waddell & Reed Inc has invested 0.1% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK).

Insider Transactions: Since April 21, 2016, the stock had 0 insider buys, and 17 selling transactions for $9.75 million net activity. $473,060 worth of Autodesk, Inc. (NASDAQ:ADSK) was sold by BEVERIDGE CRAWFORD W. Shares for $1.47 million were sold by BASS CARL. Shares for $738,624 were sold by BECKER JAN. Shares for $15,388 were sold by Di Fronzo Pascal W on Monday, October 3. 15,000 shares were sold by Blum Steven M, worth $900,000. On Tuesday, August 30 RAFAEL BETSY sold $299,405 worth of the stock or 4,416 shares. NORRINGTON LORRIE M sold 5,000 shares worth $280,000.

Another recent and important Autodesk, Inc. (NASDAQ:ADSK) news was published by Fool.com which published an article titled: “3 Things Autodesk, Inc. Management Wants You to Know” on September 08, 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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