StockNews.com Lowers Autodesk (NASDAQ:ADSK) to Buy

StockNews.com lowered shares of Autodesk (NASDAQ:ADSK) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus reissued a buy rating and set a $316.00 target price on shares of Autodesk in a research note on Friday, April 12th. Rosenblatt Securities boosted their target price on Autodesk from $265.00 to $290.00 and gave the stock a buy rating in a research note on Friday, March 1st. Mizuho lifted their price objective on Autodesk from $220.00 to $270.00 and gave the company a neutral rating in a research note on Friday, March 1st. Piper Sandler upped their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a neutral rating in a research note on Friday, March 1st. Finally, KeyCorp increased their target price on shares of Autodesk from $275.00 to $320.00 and gave the company an overweight rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $272.44.

Autodesk Stock Down 0.5 %

Shares of NASDAQ:ADSK opened at $216.78 on Friday. The company has a market capitalization of $46.37 billion, a price-to-earnings ratio of 51.49, a PEG ratio of 3.00 and a beta of 1.43. Autodesk has a 12-month low of $189.54 and a 12-month high of $279.53. The business has a 50-day moving average price of $246.70 and a 200 day moving average price of $235.66. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23.

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

Insider Buying and Selling at Autodesk

In other Autodesk news, EVP Rebecca Pearce sold 1,628 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the transaction, the executive vice president now owns 13,620 shares in the company, valued at approximately $3,425,974.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the transaction, the director now directly owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $251.54, for a total value of $409,507.12. Following the transaction, the executive vice president now directly owns 13,620 shares of the company’s stock, valued at $3,425,974.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,166 shares of company stock worth $9,465,055. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its stake in shares of Autodesk by 2.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 28,224 shares of the software company’s stock worth $7,350,000 after purchasing an additional 625 shares in the last quarter. Greenleaf Trust lifted its stake in Autodesk by 3.1% in the 1st quarter. Greenleaf Trust now owns 20,412 shares of the software company’s stock valued at $5,316,000 after buying an additional 616 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Autodesk by 32.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 5,528 shares of the software company’s stock valued at $1,439,000 after buying an additional 1,345 shares during the last quarter. Crescent Grove Advisors LLC increased its position in Autodesk by 27.4% during the first quarter. Crescent Grove Advisors LLC now owns 1,111 shares of the software company’s stock worth $289,000 after buying an additional 239 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Autodesk by 127.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 965 shares of the software company’s stock worth $251,000 after acquiring an additional 540 shares during the last quarter. Hedge funds and other institutional investors 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.