Stocks of Autodesk Inc. (ADSK) are poised to climb above their peers

Autodesk Inc. (NASDAQ: ADSK) stock jumped 0.41% on Thursday to $197.56 against a previous-day closing price of $196.75. With 2.49 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.38 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $199.51 whereas the lowest price it dropped to was $195.69. The 52-week range on ADSK shows that it touched its highest point at $235.01 and its lowest point at $163.20 during that stretch. It currently has a 1-year price target of $232.87. Beta for the stock currently stands at 1.52.

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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 -3.55%, but this was up by 4.03% over a month. Three-month performance surged to 2.61% while six-month performance fell -5.43%. The stock gained 10.03% in the past year, while it has gained 5.72% so far this year. A look at the trailing 12-month EPS for ADSK yields 3.78 with Next year EPS estimates of 8.35. For the next quarter, that number is 1.77. This implies an EPS growth rate of 68.60% for this year and 15.53% for next year. EPS is expected to grow by 15.79% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 48.50%.

Float and Shares Shorts:

At present, 214.15 million ADSK shares are outstanding with a float of 213.54 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.34 million, which was 1.09% higher than short shares on Mar 30, 2023. In addition to Dr. Andrew Anagnost as the firm’s Pres, CEO & Director, Ms. Deborah L. Clifford serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 94.64% of ADSK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.29% of ADSK, in contrast to 53.34% held by mutual funds. Shares owned by individuals account for 38.75%. As the largest shareholder in ADSK with 8.19% of the stake, The Vanguard Group, Inc. holds 17,593,852 shares worth 17,593,852. A second-largest stockholder of ADSK, BlackRock Fund Advisors, holds 10,439,040 shares, controlling over 4.86% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in ADSK, holding 8,623,556 shares or 4.01% stake. With a 3.12% stake in ADSK, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 6,704,813 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.36% of ADSK stock, is the second-largest Mutual Fund holder. It holds 5,064,340 shares valued at 986.48 million. Invesco QQQ Trust holds 1.33% of the stake in ADSK, owning 2,860,735 shares worth 557.24 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jan 30, 2023, ADSK reported revenue of $1.17B and operating income of $214.00M. The EBITDA in the recently reported quarter was $252.00M and diluted EPS was $0.67.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ADSK since 0 analysts follow the stock currently. 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 $265.00 and a low target of $175.00, the average target price over the next 12 months is $229.42. Based on these targets, ADSK could surge 34.14% to reach the target high and fall by -11.42% to reach the target low. Reaching the average price target will result in a growth of 16.13% 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.

Summary of Insider Activity:

Insiders traded ADSK stock several times over the past three months with 15 Buys and 27 Sells. In these transactions, 172,687 shares were bought while 88,325 shares were sold. The number of buy transactions has increased to 32 while that of sell transactions has risen to 56 over the past year. The total number of shares bought during that period was 191,931 while 134,459 shares were sold.

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