Shares of Autodesk (ADSK) Sees Large Outflow of Money

Autodesk (ADSK): The stock had negative money flow to the tune of ($2.31 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $8.15 million, whereas, the outflow of money on downticks was $10.46 million and the ratio between the two was 0.78. The block trade had a negative net money flow of ($2.08 million). The total block trade value undertaken on upticks was $2.99 million. On the other hand, downticks amounted to $5.07 million of the traded value, which shows distribution in the stock by traders. The ratio between uptick and downtick was 0.59. Autodesk (ADSK) closed with marginal gains of 107 cents to end the day at $58.59, an increase of 1.85% over the previous days close. The stock recorded 1.04% for the week.


Also, Major Brokerage house, UBS maintains its ratings on Autodesk (NASDAQ:ADSK). In the latest research report, UBS raises the target price from $53 per share to $58 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on May 16, 2016.

Autodesk (NASDAQ:ADSK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $57.85 and $57.38 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $58.63. The buying momentum continued till the end and the stock did not give up its gains. It closed at $58.27, notching a gain of 1.30% for the day. The total traded volume was 1,987,442 . The stock had closed at $57.52 on the previous day.

The stock has recorded a 20-day Moving Average of 5.17% and the 50-Day Moving Average is 2.43%. In a related news,The director officer (Chief Executive Officer) of Autodesk Inc, Bass Carl sold 26,209 shares at $56 on July 12, 2016. The Insider selling transaction had a total value worth of $1,467,704. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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.

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