Autodesk (NASDAQ:ADSK) Cut to Hold at Berenberg Bank

Berenberg Bank lowered shares of Autodesk (NASDAQ:ADSK) from a buy rating to a hold rating in a research note released on Wednesday morning, MarketBeat Ratings reports. They currently have $295.00 target price on the software company’s stock.

A number of other research analysts have also recently issued reports on ADSK. Mizuho lifted their target price 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. Piper Sandler Companies increased their target price on Autodesk from $234.00 to $260.00 and gave the stock a neutral rating in a report on Friday, March 1st. Rosenblatt Securities lifted their price target on Autodesk from $265.00 to $290.00 and gave the company a buy rating in a report on Friday, March 1st. Barclays increased their price objective on shares of Autodesk from $300.00 to $310.00 and gave the stock an overweight rating in a report on Friday, March 1st. Finally, Oppenheimer boosted their target price on shares of Autodesk from $265.00 to $315.00 and gave the stock an outperform rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $274.67.

Autodesk Stock Up 2.5 %

NASDAQ ADSK opened at $215.19 on Wednesday. Autodesk has a 1-year low of $189.54 and a 1-year high of $279.53. 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’s 50 day moving average is $244.08 and its two-hundred day moving average is $235.33. The company has a market capitalization of $46.37 billion, a price-to-earnings ratio of 51.11, a PEG ratio of 2.90 and a beta of 1.45.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $1.26 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts forecast that Autodesk will post 5.38 earnings per share for the current fiscal year.

Insider Activity at Autodesk

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Mary T. Mcdowell sold 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $275.00, for a total value of $1,375,000.00. Following the completion of the transaction, the director now owns 33,766 shares of the company’s stock, valued at approximately $9,285,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the sale, the chief executive officer now owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,166 shares of company stock worth $9,465,055. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Concord Wealth Partners bought a new position in shares of Autodesk during the 1st quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Autodesk during the 4th quarter worth approximately $25,000. Bfsg LLC bought a new position in Autodesk in the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. acquired a new position in shares of Autodesk in the fourth quarter valued at approximately $28,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of Autodesk in the fourth quarter valued at approximately $31,000. 90.24% of the stock is owned by institutional investors and hedge funds.

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.