Autodesk Inc. (ADSK) Reaches New 52-Week High at $69.57
Autodesk Inc. (NASDAQ:ADSK) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $69.57 and last traded at $68.66, with a volume of 758,489 shares traded. The stock had previously closed at $68.13.
ADSK has been the subject of several research reports. Barclays PLC reiterated an “overweight” rating and issued a $70.00 price target on shares of Autodesk in a research note on Monday, May 23rd. Zacks Investment Research upgraded shares of Autodesk from a “sell” rating to a “hold” rating in a research note on Wednesday, May 25th. Pacific Crest reiterated an “equal weight” rating and issued a $81.00 price target on shares of Autodesk in a research note on Tuesday, July 12th. Royal Bank Of Canada increased their price target on shares of Autodesk from $60.00 to $64.00 and gave the stock a “sector perform” rating in a research note on Friday, August 19th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $64.00 price target (up from $60.00) on shares of Autodesk in a research note on Sunday, August 21st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.09.
The stock’s 50 day moving average is $64.22 and its 200-day moving average is $59.27. The company’s market cap is $15.27 billion.
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Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.18. Autodesk had a negative net margin of 15.05% and a negative return on equity of 5.95%. The firm had revenue of $550.70 million for the quarter, compared to the consensus estimate of $511.49 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities analysts expect that Autodesk Inc. will post ($0.60) EPS for the current year.
In related news, CEO Carl Bass sold 26,209 shares of the stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $56.00, for a total value of $1,467,704.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Betsy Rafael sold 4,416 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $67.80, for a total transaction of $299,404.80. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in Autodesk by 23.8% in the second quarter. FMR LLC now owns 20,026,572 shares of the software company’s stock valued at $1,084,239,000 after buying an additional 3,844,505 shares in the last quarter. Iridian Asset Management LLC CT bought a new stake in Autodesk during the second quarter valued at approximately $132,576,000. Norges Bank bought a new stake in Autodesk during the fourth quarter valued at approximately $106,929,000. First Eagle Investment Management LLC bought a new stake in Autodesk during the second quarter valued at approximately $37,658,000. Finally, Loomis Sayles & Co. L P raised its stake in Autodesk by 6.7% in the second quarter. Loomis Sayles & Co. L P now owns 8,603,758 shares of the software company’s stock valued at $465,808,000 after buying an additional 541,494 shares in the last quarter. Institutional investors own 97.19% of the company’s stock.
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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