The stock of Autodesk, Inc. (NASDAQ:ADSK) reached all time high today, Oct, 10 and still has $89.03 target or 23.00% above today’s $72.38 share price. This indicates more upside for the $15.88B company. This technical setup was reported by Barchart.com. If the $89.03 PT is reached, the company will be worth $3.65 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 455,225 shares traded hands. Autodesk, Inc. (NASDAQ:ADSK) has risen 23.79% since March 7, 2016 and is uptrending. It has outperformed by 16.20% 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. Canaccord Genuity maintained Autodesk, Inc. (NASDAQ:ADSK) rating on Friday, August 26. Canaccord Genuity has “Hold” rating and $65 price target. On Friday, February 26 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Rosenblatt downgraded Autodesk, Inc. (NASDAQ:ADSK) on Tuesday, August 30 to “Sell” rating. The stock has “Buy” rating given by Canaccord Genuity on Wednesday, September 30. The rating was maintained by Canaccord Genuity with “Hold” on Friday, May 20. William Blair initiated the stock with “Outperform” rating in Tuesday, August 4 report. The firm has “Neutral” rating by Wedbush given on Friday, September 9. The stock has “Outperform” rating given by RBC Capital Markets on Friday, August 28. Cowen & Co maintained Autodesk, Inc. (NASDAQ:ADSK) rating on Monday, August 31. Cowen & Co has “Outperform” rating and $75 price target. Wedbush maintained the stock with “Neutral” rating in Thursday, May 12 report.
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 dived, 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.
Moreover, First Republic Invest Management has 0.1% invested in Autodesk, Inc. (NASDAQ:ADSK) for 187,292 shares. Lmr Prns Llp, a United Kingdom-based fund reported 36,270 shares. Thornburg Inv Mgmt Incorporated accumulated 199,160 shares or 0.08% of the stock. Td Asset Mngmt has 103,231 shares for 0.01% of their US portfolio. Luxor Capital Group Incorporated Lp holds 1.32 million shares or 1.88% of its portfolio. Geode Capital Mgmt Ltd Llc has 0.05% invested in the company for 1.86M shares. Regions Fin, a Alabama-based fund reported 71,226 shares. Numeric Invsts Ltd Liability has 11,700 shares for 0.01% of their US portfolio. Capital World Investors holds 0.06% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK) for 4.37M shares. Tpg Grp Inc Holdings (Sbs) Advsr has invested 0.92% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK). The New York-based Amalgamated Bank & Trust has invested 0.06% in Autodesk, Inc. (NASDAQ:ADSK). Sumitomo Mitsui Trust holds 0.06% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK) for 594,246 shares. Howard Hughes Medical Institute has invested 0.04% of its portfolio in Autodesk, Inc. (NASDAQ:ADSK). Sg Americas Secs Ltd holds 17,755 shares or 0.01% of its portfolio. Trillium Asset Ltd last reported 0.27% of its portfolio in the stock.
Insider Transactions: Since April 21, 2016, the stock had 0 buys, and 17 sales for $9.75 million net activity. 10,583 shares were sold by Di Fronzo Pascal W, worth $666,623. Shares for $906,069 were sold by BASS CARL. Another trade for 4,416 shares valued at $299,405 was made by RAFAEL BETSY on Tuesday, August 30. On Wednesday, September 21 Anagnost Andrew sold $316,750 worth of the stock or 4,525 shares. 9,300 shares were sold by MCDOWELL MARY T, worth $538,743. Blum Steven M had sold 10,000 shares worth $660,000 on Friday, August 26. Hanspal Amarpreet sold $1.19 million worth of stock.
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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