Autodesk (NASDAQ:ADSK) Receives “Equal Weight” Rating from Morgan Stanley

Autodesk (NASDAQ:ADSKGet Free Report)‘s stock had its “equal weight” rating reiterated by Morgan Stanley in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $255.00 price target on the software company’s stock. Morgan Stanley’s price objective points to a potential upside of 14.57% from the stock’s previous close.

A number of other equities analysts also recently weighed in on ADSK. StockNews.com downgraded Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus reduced their price objective on Autodesk from $316.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Berenberg Bank lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $295.00 price objective on the stock. in a research report on Wednesday, May 1st. Rosenblatt Securities reiterated a “buy” rating and set a $290.00 target price on shares of Autodesk in a research report on Wednesday. Finally, Bank of America lowered their target price on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $262.42.

Get Our Latest Report on ADSK

Autodesk Trading Up 5.2 %

ADSK stock traded up $11.07 during mid-day trading on Wednesday, reaching $222.57. The company’s stock had a trading volume of 1,726,556 shares, compared to its average volume of 1,645,783. The business’s 50 day moving average price is $220.01 and its 200 day moving average price is $237.44. Autodesk has a 12 month low of $192.01 and a 12 month high of $279.53. The company has a market cap of $47.96 billion, a price-to-earnings ratio of 52.87, a price-to-earnings-growth ratio of 2.96 and a beta of 1.43. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSKGet Free Report) last released its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.77 by $0.10. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts predict that Autodesk will post 5.41 EPS for the current year.

Insider Transactions at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $256.66, for a total value of $141,163.00. Following the transaction, the director now owns 33,216 shares of the company’s stock, valued at approximately $8,525,218.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was 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 directly owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $256.66, for a total value of $141,163.00. Following the sale, the director now owns 33,216 shares of the company’s stock, valued at $8,525,218.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,988 shares of company stock worth $7,534,941. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. VisionPoint Advisory Group LLC increased its stake in Autodesk by 21.5% during the 4th quarter. VisionPoint Advisory Group LLC now owns 237 shares of the software company’s stock worth $58,000 after buying an additional 42 shares during the period. Bouvel Investment Partners LLC raised its stake in Autodesk by 0.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock valued at $2,864,000 after buying an additional 44 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Autodesk by 3.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock worth $306,000 after buying an additional 45 shares during the last quarter. Goodman Advisory Group LLC lifted its holdings in Autodesk by 0.4% during the 4th quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock worth $2,770,000 after buying an additional 49 shares during the last quarter. Finally, Epic Trust Investment Advisors LLC boosted its position in shares of Autodesk by 3.7% during the 4th quarter. Epic Trust Investment Advisors LLC now owns 1,360 shares of the software company’s stock worth $331,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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