Autodesk (NASDAQ:ADSK) Price Target Cut to $220.00

Autodesk (NASDAQ:ADSKGet Rating) had its target price decreased by investment analysts at Stifel Nicolaus from $270.00 to $220.00 in a report issued on Wednesday, The Fly reports. Stifel Nicolaus’ price target would indicate a potential upside of 11.64% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Wolfe Research started coverage on Autodesk in a report on Tuesday, August 16th. They issued an “outperform” rating and a $270.00 target price on the stock. Rosenblatt Securities dropped their target price on Autodesk from $285.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, August 25th. Moffett Nathanson started coverage on Autodesk in a report on Thursday, September 22nd. They issued a “sell” rating and a $206.00 target price on the stock. Barclays dropped their target price on Autodesk from $275.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, KeyCorp dropped their target price on Autodesk from $264.00 to $237.00 and set an “overweight” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus price target of $240.19.

Autodesk Stock Down 5.7 %

Autodesk stock opened at $197.07 on Wednesday. Autodesk has a twelve month low of $163.20 and a twelve month high of $285.38. The stock’s fifty day simple moving average is $201.56 and its 200-day simple moving average is $198.86. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.08. The firm has a market capitalization of $42.54 billion, a P/E ratio of 69.64, a P/E/G ratio of 1.85 and a beta of 1.49.

Autodesk (NASDAQ:ADSKGet Rating) last posted its quarterly earnings data on Tuesday, November 22nd. The software company reported $1.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.70. Autodesk had a return on equity of 113.63% and a net margin of 12.64%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. As a group, equities analysts expect that Autodesk will post 4.13 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In other news, CEO Andrew Anagnost sold 34,366 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the completion of the sale, the chief executive officer now owns 76,968 shares in the company, valued at $15,922,370.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Several hedge funds have recently made changes to their positions in the business. Toroso Investments LLC lifted its position in Autodesk by 4.4% in the third quarter. Toroso Investments LLC now owns 9,188 shares of the software company’s stock valued at $1,716,000 after purchasing an additional 388 shares during the period. CVA Family Office LLC lifted its position in Autodesk by 111.8% in the third quarter. CVA Family Office LLC now owns 341 shares of the software company’s stock valued at $64,000 after purchasing an additional 180 shares during the period. IHT Wealth Management LLC lifted its position in Autodesk by 41.5% in the third quarter. IHT Wealth Management LLC now owns 2,788 shares of the software company’s stock valued at $521,000 after purchasing an additional 818 shares during the period. Dash Acquisitions Inc. lifted its position in Autodesk by 6.6% in the third quarter. Dash Acquisitions Inc. now owns 1,883 shares of the software company’s stock valued at $352,000 after purchasing an additional 116 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in Autodesk in the third quarter valued at about $3,789,000. Institutional investors and hedge funds own 86.44% of the company’s stock.

About Autodesk

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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