Capital Research & Management Co…. recently announced the acquisition of new stake in Autodesk Inc. (NASDAQ:ADSK). The institutional investor has increased its shareholding in the Technology company by 29.00% to 14.82 million shares with purchase of 3.33 million shares. This fresh investment now brings its stake to 6.76% valued currently at $3.55 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.75 million to 11.02 million shares. And Lone Pine Capital LLC has lifted its position by 22.36% or 0.74 million shares – to 4.02 million shares.
With over 1.0 million Autodesk Inc. (ADSK) shares trading Friday and a closing price of $232.88 on the day, the dollar volume was approximately $233.78 million. The shares have shown a negative weekly performance of -2.03% and its price on 07/24/20 lost nearly -1.88%. Currently, there are 219.20M common shares owned by the public and among those 217.22M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 23 analysts who have offered their price forecasts for ADSK have a consensus price objective of $236.95. The analysts have set the share’s price value over the next 12 months at a high of $300.00 and a low of $143.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Autodesk Inc. stock is 2.20 for the next 12 months. The average price target is 2.86% above its last price level and an upside to the estimated low will see the stock lose -62.85% over that period. But an upside of 22.37% will see the stock hit the forecast high price target while mean target price for the stock is $247.00.
Insiders at the company have transacted a total of 75 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 204,240 shares. Insider sales of the common stock occurred on 45 occasions, with total insider shares sold totaling 154,798 shares.
The top 3 mutual fund holders in Autodesk Inc. are American Funds Growth Fund of Ame, Vanguard Total Stock Market Index, and Vanguard 500 Index Fund. American Funds Growth Fund of Ame owns 10.49 million shares of the company’s stock, all valued at over $2.51 billion. The company bought an additional 62156.0 shares recently to bring their total holdings to about 4.79% of the shares outstanding. Vanguard Total Stock Market Index sold 84678.0 shares to see its total holdings shrink to 6.24 million shares valued at over $1.49 billion and representing 2.85% of the shares outstanding. Vanguard 500 Index Fund bought 54078.0 shares to bring its total holdings to over 4.55 million shares at a value of $1.09 billion. Vanguard 500 Index Fund now owns shares totaling to 2.08% of the shares outstanding.
Shares of Autodesk Inc. (NASDAQ: ADSK) opened at $234.14, down -$3.2 from a prior closing price of $237.34. However, the script later closed the day at $232.88, down -1.88%. The company’s stock has a 5-day price change of -2.03% and 29.13% over the past three months. ADSK shares are trading 26.94% year to date (YTD), with the 12-month market performance up to 37.05% higher. It has a 12-month low price of $125.38 and touched a high of $251.39 over the same period. Currently, 1.0 million shares have been traded, compared to an average intraday trading volume of 1.57 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.50%, 3.36%, and 25.05% respectively.
Institutional ownership of Autodesk Inc. (NASDAQ: ADSK) shares accounts for 96.90% of the company’s 219.20M shares outstanding. Mutual fund holders own 56.39%, while other institutional holders and individual stakeholders account for 7.06% and 38.48% respectively.
It has a market capitalization of $50.26B and a beta (3y monthly) value of 1.58. The stock’s trailing 12-month PE ratio is 169.86, while the earnings-per-share (ttm) stands at $1.37. The company has a PEG of 5.15 and a Quick Ratio of 0.80. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.35% over the week and 3.04% over the month.
Analysts forecast that Autodesk Inc. (ADSK) will achieve an EPS of $0.9 for the current quarter, $0.95 for the next quarter and $5.36 for 2022. The lowest estimate earnings-per-share for the quarter is $0.86 while analysts give the company a high EPS estimate of $0.92. Comparatively, EPS for the current quarter was $0.65 a year ago. Earnings per share for the fiscal year are expected to increase by 327.80%, and 42.40% over the next financial year. EPS should grow at an annualized rate of 32.98% over the next five years, compared to 23.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate Autodesk Inc. (ADSK) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 4 of the 23 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the ADSK, a number of firms have released research notes about the stock. Oppenheimer stated their Outperform rating for the stock in a research note on July 09, 2020, with the firm’s price target at $300. Wells Fargo coverage for the Autodesk Inc. (ADSK) stock in a research note released on May 28, 2020 offered a Overweight rating with a price target of $240. Wedbush was of a view on May 28, 2020 that the stock is Neutral, while Morgan Stanley gave the stock Equal-Weight rating on May 28, 2020, issuing a price target of $165- $190. Mizuho on their part issued Buy rating on May 28, 2020.