Autodesk (NASDAQ:ADSK) now covered by analysts at Wolfe Research


Wolfe Research has initiated a hedge on the shares of Autodesk (NASDAQ: ADSKGet a rating) in a research note delivered to investors on Tuesday, Fly reports. The company issued an outperform rating for the software company’s stock.

Other stock analysts have also released reports on the stock. Piper Sandler lowered its price target on Autodesk shares from $298.00 to $242.00 and set an overweight rating on the stock in a Friday, May 27 research report. Goldman Sachs Group lowered its price target on Autodesk shares from $210.00 to $185.00 and placed a sell rating on the stock in a Tuesday, May 31 report. Morgan Stanley cut its price target on Autodesk shares from $258.00 to $245.00 and set an equal weighting quote on the stock in a Friday, May 27 report. Royal Bank of Canada lowered its target price on Autodesk shares from $295.00 to $255.00 in a report released Monday, May 23. Finally, Credit Suisse Group cut its price target on Autodesk shares from $440.00 to $335.00 and set a na rating on the stock in a Tuesday, May 17 report. One financial analyst gave the stock a sell rating, four gave the stock a hold rating and seventeen gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a Moderate Buy consensus rating and an average target price of $261.80.

Autodesk Inventory Performance

NASDAQ ADSK opened at $233.64 on Tuesday. The company has a 50-day moving average of $192.49 and a 200-day moving average of $202.45. The company has a debt ratio of 3.35, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $50.76 billion, a PE ratio of 106.20 and a beta of 1.53. Autodesk has a 52-week low of $163.20 and a 52-week high of $344.39.

Autodesk (NASDAQ: ADSKGet a rating) last released its quarterly results on Thursday, May 26. The software company reported EPS of $0.87 for the quarter, beating analyst consensus 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. During the same period last year, the company earned earnings per share of $1.03. Autodesk’s revenue for the quarter increased 18.3% compared to the same quarter last year. On average, sell-side analysts expect Autodesk to post EPS of 3.99 for the current year.

Insider Trading at Autodesk

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 value of $334,238.88. Following the transaction, 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 filing with the Securities & Exchange Commission, accessible via the SEC website. In other news, CAD Stephen W. Hope sold 327 shares of Autodesk in a trade 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 sale, the chief accounting officer now owns 4,186 shares of the company, valued at approximately $742,721.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Also, VPE Rebecca Pearce sold 1,608 shares of Autodesk 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 sale, the executive vice president now owns 19,325 shares of the company, valued at approximately $4,016,894.50. Disclosure of this sale can be found here. Company insiders own 0.11% of the company’s shares.

Autodesk Institutional Commerce

Hedge funds have recently changed their stock holdings. CENTRAL TRUST Co increased its stake in Autodesk shares by 6.4% in the 4th quarter. CENTRAL TRUST Co now owns 713 shares of the software company worth $200,000 after acquiring 43 more shares in the last quarter. Steel Peak Wealth Management LLC increased its stake in Autodesk shares by 1.0% in Q2. Steel Peak Wealth Management LLC now owns 5,050 shares of the software company worth $868,000 after acquiring 50 additional shares in the last quarter. Zions Bancorporation NA increased its stake in Autodesk shares by 8.7% in Q1. Zions Bancorporation NA now owns 635 shares of the software company worth $136,000 after acquiring 51 additional shares in the last quarter. Highland Capital Management LLC increased its stake in Autodesk shares by 0.6% in Q1. Highland Capital Management LLC now owns 8,105 shares of the software company worth $1,737,000 after acquiring 52 additional shares in the last quarter. Finally, Hartford Investment Management Co. increased its stake in Autodesk shares by 0.3% in the second quarter. Hartford Investment Management Co. now owns 20,807 shares of the software company worth $3,578,000 after buying 54 more shares in the last quarter. 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.

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