Autodesk (NASDAQ:ADSK) Raised to “Strong-Buy” at Hsbc Global Res

Hsbc Global Res upgraded shares of Autodesk (NASDAQ:ADSK) to a strong-buy rating in a research note issued to investors on Tuesday, Zacks.com reports.

Several other equities research analysts have also recently commented on ADSK. Morgan Stanley boosted their price target on shares of Autodesk from $305.00 to $320.00 and gave the stock an overweight rating in a research report on Friday, August 30th. Mizuho boosted their target price on shares of Autodesk from $230.00 to $260.00 and gave the stock a neutral rating in a report on Friday, August 30th. Stifel Nicolaus raised their target price on shares of Autodesk from $290.00 to $320.00 and gave the stock a buy rating in a report on Friday, August 30th. KeyCorp restated an overweight rating and issued a $305.00 price target on shares of Autodesk in a research report on Monday, August 26th. Finally, Piper Sandler increased their price objective on Autodesk from $239.00 to $257.00 and gave the company a neutral rating in a research report on Friday, August 30th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $292.17.

Autodesk Trading Down 1.6 %

Autodesk stock opened at $251.77 on Tuesday. Autodesk has a 12-month low of $192.01 and a 12-month high of $279.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $54.26 billion, a PE ratio of 54.50, a price-to-earnings-growth ratio of 3.45 and a beta of 1.48. The firm has a 50 day simple moving average of $247.07 and a 200-day simple moving average of $239.27.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Autodesk will post 5.55 EPS for the current fiscal year.

Insider Buying and Selling at Autodesk

In other news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the transaction, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the sale, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. Insiders have sold a total of 57,275 shares of company stock valued at $14,220,661 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Several large investors have recently made changes to their positions in ADSK. Price T Rowe Associates Inc. MD grew its position in Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after acquiring an additional 4,563,668 shares in the last quarter. Norges Bank acquired a new stake in shares of Autodesk in the 4th quarter valued at $619,404,000. Ninety One UK Ltd boosted its holdings in Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares in the last quarter. Van ECK Associates Corp increased its position in Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after buying an additional 825,165 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Autodesk by 366.5% during the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock valued at $208,610,000 after buying an additional 662,339 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

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.