Autodesk (NASDAQ:ADSK) Rating Lowered to Buy at StockNews.com

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

Several other research firms have also commented on ADSK. BMO Capital Markets increased their target price on shares of Autodesk from $232.00 to $293.00 and gave the company a market perform rating in a report on Friday, March 1st. Piper Sandler Companies increased their target price on shares of Autodesk from $234.00 to $260.00 and gave the company a neutral rating in a report on Friday, March 1st. Barclays increased their price target on shares of Autodesk from $300.00 to $310.00 and gave the company an overweight rating in a research report on Friday, March 1st. Stifel Nicolaus reissued a buy rating and set a $316.00 price target on shares of Autodesk in a research report on Friday, April 12th. Finally, KeyCorp increased their price target on shares of Autodesk from $275.00 to $320.00 and gave the company an overweight rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $272.44.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $217.93 on Friday. The company’s fifty day moving average price is $247.53 and its 200-day moving average price is $235.31. The firm has a market capitalization of $46.62 billion, a price-to-earnings ratio of 51.76, a PEG ratio of 2.96 and a beta of 1.43. Autodesk has a one year low of $188.38 and a one year high of $279.53. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $1.26 EPS. On average, equities research analysts anticipate that Autodesk will post 5.38 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In other news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the completion of the sale, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated 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 transaction, the director now directly owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,166 shares of company stock valued at $9,465,055. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC lifted its position in Autodesk by 86.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock valued at $1,959,000 after acquiring an additional 4,381 shares during the period. CWA Asset Management Group LLC purchased a new position in Autodesk in the third quarter worth about $330,000. abrdn plc raised its holdings in Autodesk by 26.2% in the fourth quarter. abrdn plc now owns 460,759 shares of the software company’s stock worth $112,186,000 after buying an additional 95,723 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Autodesk in the fourth quarter worth about $7,280,000. Finally, International Assets Investment Management LLC raised its holdings in Autodesk by 3,539.1% in the fourth quarter. International Assets Investment Management LLC now owns 227,410 shares of the software company’s stock worth $55,370,000 after buying an additional 221,161 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

About Autodesk

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.