Autodesk (NASDAQ:ADSK) Now Covered by DA Davidson

Analysts at DA Davidson started coverage on shares of Autodesk (NASDAQ:ADSK) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $260.00 price target on the software company’s stock. DA Davidson’s price target would indicate a potential downside of 4.38% from the stock’s current price.

Several other research analysts have also weighed in on the company. Citigroup upped their target price on Autodesk from $316.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Stifel Nicolaus upped their target price on Autodesk from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and upped their target price for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Mizuho upped their target price on Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, HSBC raised Autodesk from a “hold” rating to a “buy” rating and upped their target price for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Eight 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Autodesk Stock Down 0.5 %

NASDAQ:ADSK opened at $271.90 on Friday. The firm has a market capitalization of $58.60 billion, a price-to-earnings ratio of 58.85, a PEG ratio of 3.41 and a beta of 1.48. Autodesk has a 1-year low of $192.01 and a 1-year high of $279.53. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The business’s fifty day moving average price is $252.43 and its 200 day moving average price is $240.23.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. Autodesk’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. On average, sell-side analysts forecast that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Activity at Autodesk

In related news, COO Steven M. Blum sold 19,693 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total transaction of $4,923,250.00. Following the completion of the sale, the chief operating officer now owns 34,443 shares in the company, valued at approximately $8,610,750. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 owns 17,099 shares in the company, valued at approximately $4,616,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the sale, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. Insiders sold a total of 38,687 shares of company stock worth $10,027,986 in the last 90 days. 0.14% of the stock is owned by company insiders.

Institutional Trading of Autodesk

A number of hedge funds have recently modified their holdings of ADSK. Price T Rowe Associates Inc. MD lifted its position in shares of Autodesk by 263.6% in the 1st 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 during the period. Ninety One UK Ltd lifted its position in shares of Autodesk by 28.0% in the 2nd quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after acquiring an additional 1,108,973 shares during the period. Van ECK Associates Corp lifted its position in shares of Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after acquiring an additional 825,165 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Autodesk by 366.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after buying an additional 662,339 shares in the last quarter. Finally, FIL Ltd raised its holdings in shares of Autodesk by 19.6% in the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock worth $711,216,000 after buying an additional 479,559 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

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.