Autodesk, Inc. (NASDAQ:ADSK) Given Average Recommendation of “Buy” by Brokerages
Autodesk, Inc. (NASDAQ:ADSK) has been given a consensus rating of “Buy” by the twenty-five analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $104.72.
Several brokerages recently commented on ADSK. Guggenheim began coverage on Autodesk in a report on Wednesday, April 12th. They issued a “neutral” rating on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $120.00 target price on shares of Autodesk in a report on Wednesday, June 21st. BidaskClub upgraded Autodesk from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. ValuEngine upgraded Autodesk from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Pacific Crest restated an “overweight” rating and set a $105.00 price target on shares of Autodesk in a report on Monday, May 8th.
Shares of Autodesk (ADSK) traded down 0.15% during mid-day trading on Friday, hitting $109.75. 1,116,428 shares of the company were exchanged. Autodesk has a 12-month low of $56.80 and a 12-month high of $114.68. The company’s market capitalization is $24.19 billion. The firm has a 50 day moving average of $106.50 and a 200 day moving average of $92.72.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, May 18th. The software company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.08. Autodesk had a negative return on equity of 36.65% and a negative net margin of 26.99%. The business had revenue of $485.70 million for the quarter, compared to analysts’ expectations of $470.27 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. Equities research analysts forecast that Autodesk will post ($0.57) earnings per share for the current year.
In related news, VP Paul D. Underwood sold 6,490 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $111.93, for a total value of $726,425.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Steven M. Blum sold 6,638 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $112.71, for a total value of $748,168.98. The disclosure for this sale can be found here. Insiders sold a total of 170,570 shares of company stock valued at $17,865,037 over the last three months. 6.10% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Insight Capital Research & Management Inc. raised its stake in Autodesk by 0.6% in the second quarter. Insight Capital Research & Management Inc. now owns 12,173 shares of the software company’s stock worth $1,227,000 after buying an additional 67 shares during the last quarter. Barometer Capital Management Inc. bought a new stake in Autodesk during the second quarter worth approximately $635,000. Investment House LLC raised its stake in Autodesk by 1.0% in the second quarter. Investment House LLC now owns 47,615 shares of the software company’s stock worth $4,801,000 after buying an additional 475 shares during the last quarter. US Bancorp DE raised its stake in Autodesk by 3.6% in the second quarter. US Bancorp DE now owns 35,626 shares of the software company’s stock worth $3,592,000 after buying an additional 1,224 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Autodesk during the second quarter worth approximately $36,221,000. 97.39% of the stock is owned by institutional investors and hedge funds.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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