Autodesk (NASDAQ:ADSK) Launches Research Coverage at Bank of America


Research analysts at Bank of America assumed hedging on the shares of Autodesk (NASDAQ: ADSKGet a rating) in a research note released Wednesday to investors. The firm has set a “neutral” rating and a price target of $220.00 on the software company’s stock. Bank of AmericaThe stock’s price target suggests a potential decline of 0.87% from the current stock price.

Several other stock analysts have also recently weighed in on ADSK. Stifel Nicolaus cut his price target on Autodesk shares from $285.00 to $230.00 and set a “buy” rating on the stock in a Monday, May 23 research note. KeyCorp cut its price target on Autodesk shares from $260.00 to $250.00 and set an “overweight” rating for the company in a Friday, May 27 research report. Morgan Stanley cut its price target on Autodesk shares from $258.00 to $245.00 and set an “equal weight” rating for the company in a Friday, May 27 research report. Mizuho restated a “buy” rating and set a price target of $250.00 on Autodesk shares in a Friday, May 27 research report. Finally, Oppenheimer began covering Autodesk stocks in a research report on Tuesday, July 26. They set an “outperform” rating and a price target of $320.00 for the company. One financial analyst gave the stock a sell rating, four gave the company a hold rating and sixteen gave the company a buy rating. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $261.80.

Autodesk Inventory Performance

ADSK opened at $221.94 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt ratio of 3.35. The company has a market capitalization of $48.22 billion, a price-earnings ratio of 100.88 and a beta of 1.53. Autodesk has a 52-week low of $163.20 and a 52-week high of $344.39. The company’s fifty-day simple moving average is $189.72 and its two-hundred-day simple moving average is $203.57.

Autodesk (NASDAQ: ADSKGet a rating) last released its quarterly results on Thursday, May 26. The software company reported earnings per share of $0.87 for the quarter, beating the consensus estimate of $0.77 by $0.10. The company posted revenue of $1.17 billion for the quarter, versus a consensus estimate of $1.15 billion. Autodesk had a net margin of 10.67% and a return on equity of 68.41%. The company’s revenue for the quarter increased 18.3% year over year. During the same period last year, the company posted earnings per share of $1.03. Stock analysts expect Autodesk to post earnings per share of 3.99 for the current fiscal year.

Insider buying and selling

In related news, EVP Rebecca Pearce sold 1,608 shares of Autodesk in a trade that took place on Tuesday, May 31. The shares were sold at an average price of $207.86, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. In other news, EVP Rebecca Pearce sold 1,608 shares of the company in a transaction that took place 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 sale, the executive vice president now owns 19,325 shares of the company, valued at approximately $4,016,894.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, CAO Stephen W. Hope sold 327 shares of the company in a trade that took place on Tuesday, July 12. The stock was sold at an average price of $177.43, for a total transaction of $58,019.61. As a result of the sale, the accounting chief now 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.

Autodesk Institutional Commerce

Institutional investors have recently changed their stock portfolios. Curi Wealth Management LLC bought a new stake in Autodesk in Q4 for $25,000. AHL Investment Management Inc. acquired a new stake in Autodesk in Q4 worth $34,000. Hanson & Doremus Investment Management increased its position in Autodesk by 1,136.4% in Q1. Hanson & Doremus Investment Management now owns 136 shares of the software company valued at $29,000 after buying 125 more shares in the last quarter. Bank of New Hampshire bought a new stake in Autodesk in Q1 for $33,000. Finally, First Manhattan Co. increased its position in Autodesk by 342.9% in the 1st quarter. First Manhattan Co. now owns 155 shares of the software company valued at $33,000 after buying 120 more shares in the last quarter. Hedge funds and other institutional investors hold 89.55% of the company’s shares.

About Autodesk

(Get a rating)

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.

Further reading

Analyst Recommendations for Autodesk (NASDAQ: ADSK)



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