Traders Buy Shares of Autodesk (ADSK) on Weakness

Investors purchased shares of Autodesk, Inc. (NASDAQ:ADSK) on weakness during trading hours on Monday. $101.89 million flowed into the stock on the tick-up and $36.97 million flowed out of the stock on the tick-down, for a money net flow of $64.92 million into the stock. Of all stocks tracked, Autodesk had the 2nd highest net in-flow for the day. Autodesk traded down ($0.14) for the day and closed at $134.97

ADSK has been the topic of a number of research reports. BidaskClub downgraded shares of Autodesk from a strong-buy rating to a buy rating in a report on Wednesday, May 30th. KeyCorp boosted their price target on shares of Autodesk from $138.00 to $144.00 and gave the company an overweight rating in a report on Thursday, March 29th. Evercore ISI restated a buy rating and set a $150.00 price target on shares of Autodesk in a report on Wednesday, March 21st. Zacks Investment Research lowered shares of Autodesk from a hold rating to a sell rating in a report on Tuesday, March 13th. Finally, Deutsche Bank restated a buy rating and set a $150.00 price target on shares of Autodesk in a report on Monday, May 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have assigned a buy rating to the companys stock. Autodesk has a consensus rating of Buy and an average price target of $149.60.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, May 24th. The software company reported $0.06 EPS for the quarter, beating the Zacks consensus estimate of $0.03 by $0.03. Autodesk had a negative net margin of 24.39% and a negative return on equity of 3,087.49%. The firm had revenue of $559.90 million for the quarter, compared to the consensus estimate of $558.49 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The firms revenue was up 15.3% on a year-over-year basis. sell-side analysts predict that Autodesk, Inc. will post 0.02 EPS for the current fiscal year.

In related news, Director Karen Blasing sold 350 shares of the businesss stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $138.14, for a total transaction of $48,349.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Fronzo Pascal W. Di sold 7,185 shares of the businesss stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $138.78, for a total transaction of $997,134.30. The disclosure for this sale can be found here. Insiders have sold 21,405 shares of company stock worth $2,890,471 over the last ninety days. 0.14% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of ADSK. Institutional & Family Asset Management LLC bought a new stake in Autodesk in the first quarter worth approximately $100,000. IHT Wealth Management LLC grew its position in Autodesk by 1,142.2% in the first quarter. IHT Wealth Management LLC now owns 1,031 shares of the software companys stock worth $127,000 after acquiring an additional 948 shares in the last quarter. Delek Group Ltd. bought a new stake in Autodesk in the fourth quarter worth approximately $132,000. DE Burlo Group Inc. bought a new stake in Autodesk in the first quarter worth approximately $200,000. Finally, Virtue Capital Management LLC bought a new stake in Autodesk in the fourth quarter worth approximately $201,000. 93.82% of the stock is owned by institutional investors.

This article provided by NewsEdge.