Shares of Autodesk, Inc. (NASDAQ: ADSK – Get a rating) have been assigned an average rating of “moderate buy” by the twenty-three rating agencies that cover the company, Marketbeat reports. One research analyst rated the stock with a sell recommendation, three assigned a hold recommendation and fourteen gave the company a buy recommendation. The 1-year average target price among analysts who have covered the stock over the past year is $263.74.
ADSK has been the subject of a number of research reports. KeyCorp cut its price target on Autodesk shares from $260.00 to $250.00 and set an “overweight” rating on the stock in a Friday, May 27 research note. Robert W. Baird raised his target price on Autodesk stock from $255.00 to $260.00 in a Friday, May 27 research report. Stifel Nicolaus lowered his price target on Autodesk shares from $285.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, May 23. Deutsche Bank Aktiengesellschaft downgraded Autodesk shares from a “buy” rating to a “hold” rating and lowered its target price for the stock from $275.00 to $225.00 in a research report from the Monday May 23. Finally, OTR Global upgraded Autodesk shares to a “positive” rating in a Thursday, May 5, research report.
Insider Activity at Autodesk
Separately, CAO Stephen W. Hope sold 327 shares in a trade that took place on Tuesday, July 12. The shares were sold at an average price of $177.43, for a total value of $58,019.61. Following the completion of the transaction, the chief accounting officer now owns 4,186 shares of the company, valued at approximately $742,721.98. The sale was disclosed in a legal filing with the SEC, which is available via the SEC website. In other news, EVP Rebecca Pearce sold 1,608 shares of the company in a trade on Tuesday, May 31. The shares were sold at an average price of $207.86, for a total transaction of $334,238.88. Following the completion of the transaction, the executive vice president now owns 19,325 shares of the company, valued at $4,016,894.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CAD Stephen W. Hope sold 327 shares of the company in a trade on Tuesday, July 12. The shares were sold at an average price of $177.43, for a total transaction of $58,019.61. As a result of the transaction, the chief accounting officer now directly owns 4,186 shares of the company, valued at approximately $742,721.98. Disclosure of this sale can be found here. 0.11% of the shares are held by insiders.
Hedge funds weigh on Autodesk
Several large investors have recently changed their stake in the company. Norges Bank acquired a new equity stake in Autodesk during the fourth quarter worth $1,504,904,000. Polen Capital Management LLC increased its position in Autodesk shares by 18.7% during the first quarter. Polen Capital Management LLC now owns 8,650,112 shares of the software company worth $1,854,152,000 after purchasing an additional 1,365,221 shares during the period. Brown Advisory Inc. increased its position in Autodesk shares by 18.3% during the fourth quarter. Brown Advisory Inc. now owns 5,839,301 shares of the software company worth $1,641,953,000 after purchasing an additional 902,168 shares during the period. Castleview Partners LLC acquired a new stake in shares of Autodesk during the fourth quarter at a value of $3,181,000. Finally, Ninety One UK Ltd increased its position in Autodesk shares by 29.0% during the first quarter. Ninety One UK Ltd now owns 3,393,123 shares in the software company worth $727,316,000 after buying an additional 762,242 shares during the period. Institutional investors hold 89.55% of the company’s shares.
Autodesk stock up 6.3%
ADSK shares opened at $196.38 on Thursday. Autodesk has a 52-week low of $163.20 and a 52-week high of $344.39. The company has a market capitalization of $42.67 billion, a P/E ratio of 89.26 and a beta of 1.46. The company’s 50-day simple moving average is $185.61 and its 200-day simple moving average is $208.04. The company has a debt ratio of 3.35, a quick ratio of 0.62 and a current ratio of 0.62.
Autodesk (NASDAQ:ADSK – Get a rating) last announced its quarterly results on Thursday, May 26. The software company reported EPS of $0.87 for the quarter, beating consensus analyst estimates of $0.77 by $0.10. Autodesk had a net margin of 10.67% and a return on equity of 68.41%. The company posted revenue of $1.17 billion for the quarter, compared to analysts’ estimates of $1.15 billion. In the same quarter of the previous year, the company achieved EPS of $1.03. Autodesk’s quarterly revenue increased 18.3% year over year. On average, analysts expect Autodesk to post earnings per share of 4.01 for the current year.
Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land, transportation, and environmental projects; BIM 360, a cloud-based construction management software; AutoCAD, professional design, drafting, detailing, and visualization software; AutoCAD LT, drafting and detailing software; computer aided manufacturing (CAM) software for computer numerical control machining, inspection and modeling for manufacturing; Fusion 360, a 3D CAD, CAM and computer-aided engineering tool; and industry collections tools for professionals in the architecture, engineering and construction, product design and manufacturing, and media and entertainment collections industries.
This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Autodesk right now?
Before you consider Autodesk, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes viral…and Autodesk wasn’t on the list.
While Autodesk currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here