Autodesk, Inc. (NASDAQ:ADSK) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.
A number of other research analysts also recently weighed in on ADSK. OTR Global downgraded Autodesk to a “positive” rating in a report on Wednesday. Evercore ISI reissued a “buy” rating and issued a $115.00 target price on shares of Autodesk in a report on Friday, May 19th. Sanford C. Bernstein assumed coverage on Autodesk in a report on Wednesday, May 24th. They issued an “outperform” rating and a $137.00 target price on the stock. Cowen and Company reissued an “outperform” rating and issued a $105.00 target price (up previously from $95.00) on shares of Autodesk in a report on Wednesday, May 17th. Finally, Wedbush reissued an “outperform” rating and issued a $125.00 target price on shares of Autodesk in a report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. Autodesk has a consensus rating of “Buy” and a consensus target price of $104.50.
Shares of Autodesk (NASDAQ:ADSK) traded up 2.43% during trading on Friday, reaching $107.53. The company’s stock had a trading volume of 527,570 shares. Autodesk has a one year low of $60.95 and a one year high of $115.25. The firm’s market cap is $23.70 billion. The stock’s 50 day moving average is $107.17 and its 200 day moving average is $95.79.
Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Autodesk had a negative return on equity of 36.65% and a negative net margin of 26.99%. The company had revenue of $485.70 million for the quarter, compared to the consensus estimate of $470.27 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Autodesk’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts forecast that Autodesk will post ($0.57) EPS for the current fiscal year.
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In related news, SVP Jan Becker sold 2,865 shares of Autodesk stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $95.73, for a total transaction of $274,266.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Steven M. Blum sold 6,638 shares of Autodesk stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $112.71, for a total value of $748,168.98. The disclosure for this sale can be found here. Insiders have sold a total of 170,570 shares of company stock worth $17,865,037 in the last three months. 6.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in Autodesk by 4,046.3% in the fourth quarter. Macquarie Group Ltd. now owns 49,755 shares of the software company’s stock valued at $3,682,000 after buying an additional 48,555 shares in the last quarter. Creative Planning boosted its position in Autodesk by 18.8% in the first quarter. Creative Planning now owns 6,108 shares of the software company’s stock valued at $528,000 after buying an additional 968 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Autodesk by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 64,110 shares of the software company’s stock valued at $5,543,000 after buying an additional 800 shares in the last quarter. Bank of Montreal Can boosted its position in Autodesk by 43.4% in the first quarter. Bank of Montreal Can now owns 103,597 shares of the software company’s stock valued at $8,958,000 after buying an additional 31,331 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Autodesk during the first quarter valued at $378,000. Institutional investors and hedge funds own 97.90% of the company’s stock.
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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