Autodesk (NASDAQ:ADSK) Shares Down 3.7%

Autodesk, Inc. (NASDAQ:ADSK)’s stock price fell 3.7% during mid-day trading on Thursday . The stock traded as low as $206.83 and last traded at $206.97. 355,927 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,362,015 shares. The stock had previously closed at $214.92.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. TheStreet upgraded Autodesk from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. The Goldman Sachs Group boosted their price objective on Autodesk from $180.00 to $230.00 and gave the company a “sell” rating in a research report on Friday, March 1st. Mizuho raised their price target on shares of Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Citigroup raised their price target on Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, KeyCorp boosted their target price on Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $272.44.

Autodesk Stock Performance

The firm has a fifty day simple moving average of $253.88 and a 200 day simple moving average of $235.09. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The stock has a market cap of $44.29 billion, a price-to-earnings ratio of 51.05, a PEG ratio of 3.14 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. Autodesk’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. As a group, sell-side analysts expect that Autodesk, Inc. will post 5.38 earnings per share for the current year.

Insider Activity

In other news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the sale, the chief accounting officer now directly owns 3,450 shares in the company, valued at approximately $898,621.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now owns 3,450 shares in the company, valued at approximately $898,621.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stacy J. Smith sold 7,554 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $244.00, for a total value of $1,843,176.00. Following the completion of the sale, the director now directly owns 19,934 shares in the company, valued at approximately $4,863,896. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,220 shares of company stock worth $11,933,231. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Hedge funds have recently made changes to their positions in the company. Garner Asset Management Corp acquired a new position in Autodesk in the fourth quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Autodesk in the fourth quarter valued at approximately $25,000. Bfsg LLC acquired a new position in shares of Autodesk in the 4th quarter worth approximately $27,000. Rakuten Securities Inc. bought a new stake in Autodesk during the 4th quarter worth approximately $28,000. Finally, Harbour Investments Inc. increased its holdings in Autodesk by 76.9% during the 4th quarter. Harbour Investments Inc. now owns 115 shares of the software company’s stock valued at $28,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.