Autodesk (NASDAQ:ADSK) Hits New 52-Week Low on Analyst Downgrade

Autodesk, Inc. (NASDAQ:ADSK) reached a new 52-week low on Wednesday after Stifel Nicolaus lowered their price target on the stock from $365.00 to $310.00. Stifel Nicolaus currently has a buy rating on the stock. Autodesk traded as low as $252.21 and last traded at $257.31, with a volume of 96139 shares trading hands. The stock had previously closed at $304.00.

Several other equities research analysts have also recently weighed in on ADSK. Guggenheim reiterated a “hold” rating on shares of Autodesk in a research note on Monday, September 6th. Canaccord Genuity increased their price target on shares of Autodesk from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, August 26th. Mizuho dropped their price target on shares of Autodesk from $380.00 to $330.00 and set a “buy” rating for the company in a research report on Wednesday. They noted that the move was a valuation call. Oppenheimer dropped their price target on shares of Autodesk from $350.00 to $315.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Credit Suisse Group dropped their price objective on shares of Autodesk from $450.00 to $440.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $342.71.

In other Autodesk news, CEO Andrew Anagnost sold 2,434 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $286.18, for a total value of $696,562.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 262 shares of the firm’s stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $286.46, for a total transaction of $75,052.52. The disclosure for this sale can be found here. Insiders have sold 8,263 shares of company stock worth $2,384,406 over the last three months. 0.11% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Autodesk by 0.6% during the second quarter. Vanguard Group Inc. now owns 17,647,131 shares of the software company’s stock worth $5,151,197,000 after purchasing an additional 99,854 shares in the last quarter. FMR LLC boosted its position in shares of Autodesk by 12.6% during the second quarter. FMR LLC now owns 8,730,919 shares of the software company’s stock worth $2,548,556,000 after purchasing an additional 975,042 shares in the last quarter. Polen Capital Management LLC boosted its position in shares of Autodesk by 14.5% during the third quarter. Polen Capital Management LLC now owns 6,897,362 shares of the software company’s stock worth $1,966,921,000 after purchasing an additional 875,015 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Autodesk by 7.3% during the second quarter. Principal Financial Group Inc. now owns 3,958,328 shares of the software company’s stock worth $1,155,436,000 after purchasing an additional 270,867 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Autodesk by 2.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,760,909 shares of the software company’s stock worth $1,072,500,000 after purchasing an additional 97,848 shares in the last quarter. 86.61% of the stock is currently owned by hedge funds and other institutional investors.

The business’s 50-day moving average price is $300.42 and its two-hundred day moving average price is $298.65. The company has a market capitalization of $56.48 billion, a P/E ratio of 43.47, a PEG ratio of 3.23 and a beta of 1.36. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.50.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 23rd. The software company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.07. Autodesk had a net margin of 32.54% and a return on equity of 69.10%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business posted $0.69 earnings per share. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. Research analysts expect that Autodesk, Inc. will post 2.86 earnings per share for the current fiscal year.

Autodesk Company Profile (NASDAQ:ADSK)

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

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