Autodesk (NASDAQ:ADSK) Downgraded by StockNews.com to “Buy”

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

Other equities research analysts also recently issued reports about the stock. Oppenheimer raised their price objective on shares of Autodesk from $265.00 to $315.00 and gave the stock an outperform rating in a research report on Friday, March 1st. Royal Bank of Canada reaffirmed an outperform rating and set a $320.00 target price on shares of Autodesk in a report on Monday, April 1st. Barclays raised their target price on shares of Autodesk from $300.00 to $310.00 and gave the stock an overweight rating in a report on Friday, March 1st. Piper Sandler Companies raised their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a neutral rating in a report on Friday, March 1st. Finally, KeyCorp raised their target price on shares of Autodesk from $275.00 to $320.00 and gave the stock an overweight rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $272.44.

Autodesk Trading Up 0.7 %

Shares of ADSK stock opened at $217.93 on Friday. The firm has a 50 day moving average price of $247.53 and a two-hundred day moving average price of $235.31. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $46.62 billion, a PE ratio of 51.76, a price-to-earnings-growth ratio of 2.96 and a beta of 1.43. Autodesk has a 12-month low of $188.38 and a 12-month high of $279.53.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.14. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. As a group, analysts predict that Autodesk will post 5.38 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $264.74, for a total value of $145,607.00. Following the sale, the director now owns 38,766 shares in the company, valued at $10,262,910.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Autodesk news, EVP Rebecca Pearce sold 1,628 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the sale, the executive vice president now owns 13,620 shares in the company, valued at $3,425,974.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $264.74, for a total transaction of $145,607.00. Following the completion of the sale, the director now owns 38,766 shares in the company, valued at approximately $10,262,910.84. 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 quarter. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of hedge funds have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. acquired a new position in shares of Autodesk during the first quarter worth $998,000. Bank of New York Mellon Corp lifted its holdings in shares of Autodesk by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 1,625,833 shares of the software company’s stock worth $423,399,000 after purchasing an additional 7,293 shares during the period. Elite Wealth Management Inc. lifted its holdings in shares of Autodesk by 11.1% during the first quarter. Elite Wealth Management Inc. now owns 13,338 shares of the software company’s stock worth $3,473,000 after purchasing an additional 1,333 shares during the period. Zhang Financial LLC lifted its holdings in shares of Autodesk by 61.8% during the first quarter. Zhang Financial LLC now owns 4,365 shares of the software company’s stock worth $1,137,000 after purchasing an additional 1,668 shares during the period. Finally, Berkshire Bank acquired a new position in shares of Autodesk during the first quarter worth $286,000. 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.