Autodesk (NASDAQ:ADSK) Now Covered by Analysts at DA Davidson

DA Davidson began coverage on shares of Autodesk (NASDAQ:ADSK) in a research report sent to investors on Friday, MarketBeat reports. The firm issued a neutral rating and a $260.00 target price on the software company’s stock.

Several other research firms have also weighed in on ADSK. Berenberg Bank raised their price objective on Autodesk from $286.00 to $299.00 and gave the stock a hold rating in a research note on Friday, August 30th. Piper Sandler boosted their price objective on Autodesk from $239.00 to $257.00 and gave the stock a neutral rating in a report on Friday, August 30th. The Goldman Sachs Group upgraded shares of Autodesk from a sell rating to a neutral rating and raised their target price for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. Royal Bank of Canada upped their price target on shares of Autodesk from $290.00 to $313.00 and gave the company an outperform rating in a research report on Friday, August 30th. Finally, Rosenblatt Securities lifted their price objective on shares of Autodesk from $290.00 to $295.00 and gave the stock a buy rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $290.47.

Autodesk Stock Up 1.3 %

ADSK opened at $275.48 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $59.37 billion, a PE ratio of 59.63, a P/E/G ratio of 3.41 and a beta of 1.48. The stock’s fifty day moving average is $253.04 and its 200-day moving average is $240.06. Autodesk has a one year low of $192.01 and a one year high of $279.53.

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

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at $1,340,944.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,973 shares of company stock valued at $10,106,590. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. bought a new position in shares of Autodesk during the 4th quarter worth about $25,000. Concord Wealth Partners bought a new stake in shares of Autodesk in the 1st quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk during the 1st quarter worth approximately $25,000. LRI Investments LLC bought a new stake in shares of Autodesk during the first quarter valued at approximately $26,000. Finally, Olistico Wealth LLC acquired a new position in shares of Autodesk in the second quarter valued at $26,000. Institutional investors and hedge funds 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.