Autodesk, Inc. (ADSK) PT Raised to $120.00
Autodesk, Inc. (NASDAQ:ADSK) had its target price boosted by research analysts at Robert W. Baird from $110.00 to $120.00 in a research note issued to investors on Wednesday. The brokerage currently has an “outperform” rating on the software company’s stock. Robert W. Baird’s price objective indicates a potential upside of 9.29% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. Evercore ISI restated a “buy” rating and set a $115.00 price objective on shares of Autodesk in a report on Friday, May 19th. Canaccord Genuity restated a “buy” rating and set a $120.00 price objective (up previously from $105.00) on shares of Autodesk in a report on Sunday, May 21st. BidaskClub downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 4th. Deutsche Bank AG started coverage on shares of Autodesk in a report on Wednesday, July 19th. They set a “buy” rating and a $130.00 price objective on the stock. Finally, TheStreet downgraded shares of Autodesk from a “c-” rating to a “d” rating in a report on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company. Autodesk has a consensus rating of “Buy” and an average price target of $105.05.
Autodesk (ADSK) traded up 0.85% during trading on Wednesday, reaching $110.73. The company had a trading volume of 412,507 shares. The stock’s market cap is $24.40 billion. Autodesk has a 12-month low of $61.99 and a 12-month high of $115.25. The firm has a 50-day moving average price of $107.34 and a 200 day moving average price of $96.58.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, May 18th. The software company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.08. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The company had revenue of $485.70 million for the quarter, compared to the consensus estimate of $470.27 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The business’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts predict that Autodesk will post ($0.56) EPS for the current fiscal year.
In other news, SVP Steven M. Blum sold 6,638 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $112.71, for a total transaction of $748,168.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl Bass sold 13,377 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $99.95, for a total transaction of $1,337,031.15. The disclosure for this sale can be found here. Insiders have sold 167,705 shares of company stock worth $17,590,771 over the last quarter. 6.10% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Autodesk by 0.3% in the second quarter. Brighton Jones LLC now owns 5,736 shares of the software company’s stock worth $578,000 after buying an additional 17 shares during the last quarter. Tdam USA Inc. raised its position in shares of Autodesk by 0.3% in the second quarter. Tdam USA Inc. now owns 7,695 shares of the software company’s stock worth $780,000 after buying an additional 20 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Autodesk by 0.4% in the first quarter. Cleararc Capital Inc. now owns 4,796 shares of the software company’s stock worth $415,000 after buying an additional 21 shares during the last quarter. Tyers Asset Management LLC raised its position in shares of Autodesk by 0.7% in the first quarter. Tyers Asset Management LLC now owns 4,464 shares of the software company’s stock worth $386,000 after buying an additional 32 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of Autodesk by 0.5% in the second quarter. Ameritas Investment Partners Inc. now owns 8,511 shares of the software company’s stock worth $858,000 after buying an additional 42 shares during the last quarter. Institutional investors own 97.73% of the company’s stock.
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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