Autodesk (NASDAQ:ADSK) Stock Rating Lowered by StockNews.com

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

Several other research analysts have also recently weighed in on ADSK. Stifel Nicolaus reaffirmed a buy rating and issued a $316.00 price target on shares of Autodesk in a report on Friday, April 12th. Royal Bank of Canada restated an outperform rating and set a $320.00 price target on shares of Autodesk in a research report on Monday, April 1st. The Goldman Sachs Group upped their price objective on shares of Autodesk from $180.00 to $230.00 and gave the company a sell rating in a research note on Friday, March 1st. Citigroup upped their price objective on shares of Autodesk from $276.00 to $307.00 and gave the company a buy rating in a research note on Monday, February 26th. Finally, Rosenblatt Securities upped their price objective on shares of Autodesk from $265.00 to $290.00 and gave the company a buy rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $272.44.

Autodesk Stock Performance

Shares of ADSK opened at $217.93 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. The stock has a 50-day moving average of $247.53 and a 200-day moving average of $235.63. The company has a market cap of $46.62 billion, a PE ratio of 51.76, a P/E/G ratio of 3.00 and a beta of 1.43. Autodesk has a one year low of $188.38 and a one year high of $279.53.

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

Insider Transactions at Autodesk

In other news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Deborah Clifford sold 5,553 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.01, for a total transaction of $1,443,835.53. Following the sale, the chief financial officer now owns 32,259 shares in the company, valued at approximately $8,387,662.59. The disclosure for this sale can be found here. Insiders have sold 36,166 shares of company stock worth $9,465,055 over the last 90 days. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of Autodesk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADSK. Ables Iannone Moore & Associates Inc. acquired a new stake in Autodesk during the fourth quarter valued at $25,000. Bfsg LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at about $27,000. Rakuten Securities Inc. acquired a new stake in shares of Autodesk in the fourth quarter valued at about $28,000. Private Wealth Management Group LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at about $31,000. Finally, First United Bank & Trust acquired a new stake in shares of Autodesk in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 90.24% 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.