Autodesk (NASDAQ:ADSK) Lowered to Buy at StockNews.com

StockNews.com lowered shares of Autodesk (NASDAQ:ADSK) from a strong-buy rating to a buy rating in a research note released on Monday morning.

A number of other research analysts have also recently weighed in on ADSK. Royal Bank of Canada lifted their target price on shares of Autodesk from $250.00 to $260.00 and gave the company an outperform rating in a research note on Thursday, August 24th. Robert W. Baird lifted their target price on shares of Autodesk from $230.00 to $239.00 and gave the company an outperform rating in a research note on Monday, August 14th. TheStreet cut Autodesk from a b- rating to a c+ rating in a report on Tuesday, August 15th. KeyCorp boosted their price target on Autodesk from $244.00 to $255.00 and gave the stock an overweight rating in a report on Thursday, August 24th. Finally, Piper Sandler reissued an overweight rating and issued a $240.00 price target on shares of Autodesk in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $236.28.

Autodesk Trading Down 0.2 %

Autodesk stock opened at $218.74 on Monday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.73 and a quick ratio of 0.72. Autodesk has a one year low of $179.61 and a one year high of $233.69. The stock has a market capitalization of $46.76 billion, a PE ratio of 54.14, a price-to-earnings-growth ratio of 2.99 and a beta of 1.49. The business’s fifty day moving average is $210.76 and its 200 day moving average is $203.94.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Wednesday, August 23rd. The software company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.18. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Autodesk had a net margin of 16.77% and a return on equity of 90.61%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.04 earnings per share. On average, sell-side analysts predict that Autodesk will post 4.67 EPS for the current year.

Insider Buying and Selling at Autodesk

In related news, CEO Andrew Anagnost sold 22,318 shares of Autodesk stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $221.90, for a total transaction of $4,952,364.20. Following the completion of the sale, the chief executive officer now owns 99,327 shares in the company, valued at approximately $22,040,661.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Betsy Rafael sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $211.17, for a total value of $65,251.53. Following the sale, the director now directly owns 4,472 shares of the company’s stock, valued at $944,352.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Anagnost sold 22,318 shares of Autodesk stock in a transaction on Friday, September 1st. The shares were sold at an average price of $221.90, for a total value of $4,952,364.20. Following the completion of the transaction, the chief executive officer now owns 99,327 shares in the company, valued at approximately $22,040,661.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,707 shares of company stock valued at $6,139,461. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Guggenheim Capital LLC lifted its stake in shares of Autodesk by 7.5% in the first quarter. Guggenheim Capital LLC now owns 44,668 shares of the software company’s stock worth $9,298,000 after acquiring an additional 3,105 shares in the last quarter. Caprock Group LLC raised its holdings in Autodesk by 4.9% in the first quarter. Caprock Group LLC now owns 2,702 shares of the software company’s stock valued at $562,000 after acquiring an additional 127 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Autodesk by 3.4% in the first quarter. Two Sigma Advisers LP now owns 1,067,600 shares of the software company’s stock valued at $222,232,000 after acquiring an additional 35,100 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in Autodesk by 19.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 51,840 shares of the software company’s stock valued at $9,687,000 after acquiring an additional 8,260 shares in the last quarter. Finally, Securian Asset Management Inc. raised its stake in Autodesk by 0.6% during the first quarter. Securian Asset Management Inc. now owns 18,027 shares of the software company’s stock valued at $3,752,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Autodesk Company Profile

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.