The Vanguard Group, Inc. has recently announced that it has increased stake in Autodesk Inc. (NASDAQ:ADSK) by 1.23%. After grabbing 17.28 million shares, the institutional investor is now in possession of 0.21 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.01% having worth around $3.7 billion. Moreover, BlackRock Fund Advisors increased its share by 68675.0 to have a control over 10.2 million shares. And SSgA Funds Management, Inc. raised its holdings to 52315.0 shares by acquiring 8.48 million shares or 3.93% of the stake.
Autodesk Inc. (ADSK) concluded trading on 11/23/22 at a closing price of $197.07, with 6.27 million shares of worth about $1.24 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 5.65% during that period and on Wednesday the price saw a loss of about -5.66%. Currently the company’s common shares owned by public are about 217.00M shares, out of which, 215.09M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 25 analysts are covering the ADSK stock and their offered price forecasts bring an average price target of $227.40. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $325.00 and could fall to a lowest price of $177.00. The stock’s current price level is 21.67% above of average price target set by the analysts, while a rise to estimated low would result in loss of -11.34% for the stock. However, touching the estimated high of $325.00 would mean a gain of 39.36% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 76 times over the past 12 months. They bought 156,341 shares in 31 of the transactions. In 45 selling transactions, insiders dumped 113,726 shares.
Vanguard Total Stock Market Index, Government Pension Fund – Global, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Autodesk Inc. Vanguard Total Stock Market Index is currently holding 6.52 million shares of worth totaling $1.4 billion. The company recently came buying 31506.0 shares which brought its stake up to 3.02% of the company’s outstanding shares. Government Pension Fund – Global bought 1.91 million shares, after which its hold over company’s outstanding shares expand to 2.46%, leaving 5.31 million shares with the mutual fund that have a worth of about $1.14 billion. Vanguard 500 Index Fund, after buying 4.97 million shares, have now control over 2.30% of the stake in the company. It holds 49105.0 shares of worth $1.07 billion.
Autodesk Inc. (NASDAQ: ADSK) started trading at $190.75, below -$18.15 from concluding price of the previous day. Stock saw a price change of -10.88% in past 5 days and over the past one month there was a price change of -8.65%. Year-to-date (YTD), ADSK shares are showing a performance of -29.92% which decreased to -35.17% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $163.20 but also hit the highest price of $310.70 during that period. The average intraday trading volume for Autodesk Inc. shares is 1.54 million. The stock is currently trading -6.47% below its 20-day simple moving average (SMA20), while that difference is down -2.34% for SMA50 and it goes to -2.45% lower than SMA200.
The Vanguard Group, Inc. acquired 17.28 million shares of Autodesk Inc. having value of about $3.7 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.21 million shares in the company valued at close to $41310601.68, or have control over 1.23% stake in the company. Autodesk Inc. (NASDAQ: ADSK) currently have 217.00M outstanding shares and institutions hold larger chunk of about 95.00% of that. Holding of mutual funds in the company is about 55.50% while other institutional holders and individual stake holders have control over 7.22% and 38.07% of the stake respectively.
The stock has a current market capitalization of $43.41B and its 3Y-monthly beta is at 1.51. PE ratio of stock for trailing 12 months is 77.68, while it has posted earnings per share of $2.54 in the same period. Its PEG reads 3.33 and has Quick Ratio of 0.60 while making debt-to-equity ratio of 3.55. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ADSK, volatility over the week remained 3.64% while standing at 3.79% over the month.
Analysts are in expectations that Autodesk Inc. (ADSK) stock would likely to be making an EPS of $1.7 in the current quarter, while forecast for next quarter EPS is $1.84 and it is $7.78 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.67 which is $1.73 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.33 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -58.80% while it is estimated to increase by 17.26% in next year. EPS is likely to shrink at an annualized rate of 23.35% for next 5-years, compared to annual growth of 23.40% made by the stock over the past 5-years.
Analysts at 25 brokerage firms have issued recommendations for the Autodesk Inc. (ADSK)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 25 Wall Street analysts, 12 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Mizuho on November 23, 2022 offering a Neutral rating for the stock and assigned a target price range of between $260 and $210 to it. Coverage by MoffettNathanson stated Autodesk Inc. (ADSK) stock as a Sell in their note to investors on September 22, 2022, suggesting a price target of $206 for the stock. On September 16, 2022, JP Morgan Downgrade their recommendations, while on August 17, 2022, Wolfe Research Initiated their ratings for the stock with a price target of $270. Stock get an Outperform rating from Oppenheimer on July 27, 2022.