Autodesk Inc. (NASDAQ: ADSK) stock fell -2.74% on Friday to $187.15 against a previous-day closing price of $192.42. With 1.15 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.46 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $191.30 whereas the lowest price it dropped to was $187.06. The 52-week range on ADSK shows that it touched its highest point at $335.48 and its lowest point at $163.20 during that stretch. It currently has a 1-year price target of $256.80. Beta for the stock currently stands at 1.53.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ADSK was down-trending over the past week, with a drop of -7.03%, but this was down by -12.40% over a month. Three-month performance surged to 2.04% while six-month performance fell -9.74%. The stock lost -34.66% in the past year, while it has lost -33.44% so far this year. A look at the trailing 12-month EPS for ADSK yields 2.54 with Next year EPS estimates of 7.80. For the next quarter, that number is 1.70. This implies an EPS growth rate of -58.80% for this year and 17.66% for next year. EPS is expected to grow by 23.35% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 23.40%.
Float and Shares Shorts:
At present, 217.00 million ADSK shares are outstanding with a float of 215.07 million shares on hand for trading. On Jul 14, 2022, short shares totaled 2.66 million, which was 1.23% higher than short shares on Jun 14, 2022. In addition to Dr. Andrew Anagnost as the firm’s Pres, CEO & Director, Ms. Deborah L. Clifford serves as its Exec. VP & CFO.
Through their ownership of 93.17% of ADSK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.17% of ADSK, in contrast to 55.27% held by mutual funds. Shares owned by individuals account for 35.97%. As the largest shareholder in ADSK with 7.86% of the stake, The Vanguard Group, Inc. holds 17,073,575 shares worth 17,073,575. A second-largest stockholder of ADSK, BlackRock Fund Advisors, holds 10,131,267 shares, controlling over 4.66% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in ADSK, holding 8,424,406 shares or 3.88% stake. With a 2.97% stake in ADSK, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 6,442,500 shares are owned by the mutual fund manager. The Government Pension Fund – Global, which owns about 2.44% of ADSK stock, is the second-largest Mutual Fund holder. It holds 5,309,409 shares valued at 1.07 billion. Vanguard 500 Index Fund holds 2.24% of the stake in ADSK, owning 4,855,178 shares worth 979.48 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ADSK since 25 analysts follow the stock currently. There are 13 analysts who recommend BUY ratings, while 2 suggest SELL ratings. Of the remaining analysts, 8 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ADSK analysts setting a high price target of $355.00 and a low target of $185.00, the average target price over the next 12 months is $251.59. Based on these targets, ADSK could surge 89.69% to reach the target high and fall by -1.15% to reach the target low. Reaching the average price target will result in a growth of 34.43% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ADSK will report FY 2023 earnings on 03/02/2023. Analysts have provided yearly estimates in a range of $6.76 being high and $6.55 being low. For ADSK, this leads to a yearly average estimate of $6.62. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Autodesk Inc. surprised analysts by $0.08 when it reported $1.65 EPS against a consensus estimate of $1.57. The surprise factor in the prior quarter was $0.06. Based on analyst estimates, the high estimate for the next quarter is $1.73 and the low estimate is $1.67. The average estimate for the next quarter is thus $1.70.
Summary of Insider Activity:
Insiders traded ADSK stock several times over the past three months with 1 Buys and 5 Sells. In these transactions, 959 shares were bought while 1,981 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 41 over the past year. The total number of shares bought during that period was 156,341 while 78,855 shares were sold.