The stock of Autodesk, Inc. (NASDAQ:ADSK) reached all time high today, Nov, 16 and still has $110.82 target or 45.00% above today’s $76.43 share price. This indicates more upside for the $17.33 billion company. This technical setup was reported by Barchart.com. If the $110.82 PT is reached, the company will be worth $7.80 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 589,261 shares traded hands. Autodesk, Inc. (NASDAQ:ADSK) has risen 29.39% since April 14, 2016 and is uptrending. It has outperformed by 24.70% 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 company was maintained on Friday, December 4 by RBC Capital Markets. Cowen & Co maintained Autodesk, Inc. (NASDAQ:ADSK) on Friday, August 26 with “Outperform” rating. The stock of Autodesk, Inc. (NASDAQ:ADSK) has “Neutral” rating given on Monday, August 31 by Citigroup. As per Friday, October 30, the company rating was downgraded by OTR Global. The firm has “Outperform” rating given on Friday, February 26 by Credit Suisse. The stock has “Hold” rating given by Canaccord Genuity on Friday, August 26. The firm has “Equal-Weight” rating by Morgan Stanley given on Tuesday, November 10. The company was initiated on Thursday, September 15 by Evercore. The stock of Autodesk, Inc. (NASDAQ:ADSK) earned “Buy” rating by UBS on Wednesday, September 30. RBC Capital Markets maintained it with “Sector Perform” rating and $60 target price in Friday, February 26 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 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.
Northern Corporation owns 2.77M shares or 0.05% of their US portfolio. Wells Fargo Co Mn holds 1.26M shares or 0.03% of its portfolio. Vantage Inv Advisors Lc owns 50 shares or 0% of their US portfolio. Manchester Cap Ltd Liability Co has 0% invested in the company for 480 shares. Swiss Bank & Trust accumulated 0.05% or 572,599 shares. Moreover, Steadfast Capital Lp has 2.65% invested in Autodesk, Inc. (NASDAQ:ADSK) for 1.93M shares. Lmr Llp accumulated 36,270 shares or 0.3% of the stock. Voya Investment Management Limited Liability Company has 144,663 shares for 0.02% of their US portfolio. Ngam Advisors Ltd Partnership accumulated 0.48% or 636,545 shares. The New York-based Cornerstone Management Hldgs Limited Liability Corporation has invested 0.02% in Autodesk, Inc. (NASDAQ:ADSK). Investment House Ltd Liability Corporation holds 47,665 shares or 0.41% of its portfolio. Ny State Teachers Retirement Systems, a New York-based fund reported 389,826 shares. Citigroup, a New York-based fund reported 79,558 shares. Bessemer Gru has 2,350 shares for 0% of their US portfolio. Addison Cap Communications accumulated 0.57% or 11,600 shares.
Insider Transactions: Since May 26, 2016, the stock had 0 insider buys, and 18 sales for $9.63 million net activity. The insider Di Fronzo Pascal W sold $15,388. Herren Richard Scott had sold 1,500 shares worth $103,365 on Thursday, November 3. RAFAEL BETSY sold $299,405 worth of stock or 4,416 shares. Another trade for 26,209 shares valued at $1.47M was sold by BASS CARL. 10,000 shares were sold by Blum Steven M, worth $660,000 on Friday, August 26. Another trade for 7,000 shares valued at $473,060 was made by BEVERIDGE CRAWFORD W on Wednesday, September 7. $339,375 worth of Autodesk, Inc. (NASDAQ:ADSK) shares were sold by Anagnost Andrew.
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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