Autodesk, Inc. (NASDAQ:ADSK) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Autodesk, Inc. (NASDAQ:ADSK) have been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $292.17.

A number of brokerages have commented on ADSK. Berenberg Bank lifted their price target on Autodesk from $286.00 to $299.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Piper Sandler upped their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Oppenheimer raised their price target on shares of Autodesk from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Rosenblatt Securities upped their price objective on shares of Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and boosted their target price for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd.

Insider Transactions at Autodesk

In related news, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.21, for a total value of $248,831.00. Following the sale, the director now owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $235.00, for a total transaction of $129,250.00. Following the completion of the transaction, the director now owns 31,566 shares of the company’s stock, valued at $7,418,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.21, for a total value of $248,831.00. Following the completion of the sale, the director now directly owns 32,116 shares in the company, valued at $7,264,960.36. The disclosure for this sale can be found here. Insiders sold a total of 57,275 shares of company stock valued at $14,220,661 in the last three months. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Autodesk in the 2nd quarter valued at $11,499,000. Coronation Fund Managers Ltd. raised its stake in Autodesk by 96.8% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 9,785 shares of the software company’s stock valued at $2,421,000 after purchasing an additional 4,813 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in Autodesk in the 2nd quarter valued at $874,000. Advisory Alpha LLC raised its stake in Autodesk by 23.7% in the 2nd quarter. Advisory Alpha LLC now owns 1,911 shares of the software company’s stock valued at $473,000 after purchasing an additional 366 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its stake in Autodesk by 202.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,353 shares of the software company’s stock valued at $582,000 after purchasing an additional 1,576 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Trading Down 0.6 %

Autodesk stock opened at $250.37 on Tuesday. The stock has a 50-day moving average of $247.13 and a two-hundred day moving average of $239.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. Autodesk has a one year low of $192.01 and a one year high of $279.53. The stock has a market cap of $53.96 billion, a PE ratio of 54.19, a price-to-earnings-growth ratio of 3.45 and a beta of 1.48.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating 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 company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business posted $1.12 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Autodesk will post 5.55 EPS for the current fiscal year.

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.