Autodesk (ADSK) : Traders are bullish on Autodesk (ADSK) as it has outperformed the S&P 500 by a wide margin of 5.55% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.16%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.21% in the last 1 week, and is up 6.64% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.93% and the 50-Day Moving Average is 8.12%. Autodesk (NASDAQ:ADSK): stock turned positive on Friday. Though the stock opened at $61.36, the bulls momentum made the stock top out at $61.96 level for the day. The stock recorded a low of $60.95 and closed the trading day at $61.83, in the green by 0.19%. The total traded volume for the day was 1,337,432. The stock had closed at $61.71 in the previous days trading.
The company Insiders own 6.2% of Autodesk shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -12.8% . Institutional Investors own 96.96% of Autodesk shares. During last six month period, the net percent change held by insiders has seen a change of -11.98%. Also, In a research note released to the investors, UBS maintains its rating on Autodesk (NASDAQ:ADSK).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, UBS raises the new price target from $53 per share to $58 per share. The rating by the firm was issued on May 16, 2016.
Autodesk, Inc. (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries. The Company operates in four segments: Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E). The PSEB, AEC and MFG segments offer a range of services, including consulting, support and training. The M&E segment offers software products to creative professionals, post-production facilities and broadcasters for a variety of applications, including feature films, television programs, commercials, music and corporate videos, interactive game production, Web design and interactive Web streaming.