Autodesk, Inc. (ADSK) Receives Average Rating of “Buy” from Analysts
Autodesk, Inc. (NASDAQ:ADSK) has earned an average rating of “Buy” from the twenty-six analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $105.67.
A number of research analysts have weighed in on ADSK shares. Evercore ISI reissued a “buy” rating and set a $115.00 target price on shares of Autodesk in a research report on Friday, May 19th. Canaccord Genuity reissued a “buy” rating and set a $120.00 target price (up previously from $105.00) on shares of Autodesk in a research report on Sunday, May 21st. BidaskClub lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Deutsche Bank AG started coverage on shares of Autodesk in a research report on Wednesday, July 19th. They set a “buy” rating and a $130.00 target price for the company. Finally, TheStreet lowered shares of Autodesk from a “c-” rating to a “d” rating in a research report on Thursday, May 18th.
In related news, SVP Steven M. Blum sold 6,638 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $112.71, for a total value of $748,168.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 35,595 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $111.84, for a total transaction of $3,980,944.80. 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 three months. 6.10% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in ADSK. British Columbia Investment Management Corp raised its stake in Autodesk by 11.8% in the first quarter. British Columbia Investment Management Corp now owns 112,143 shares of the software company’s stock valued at $9,697,000 after buying an additional 11,871 shares during the period. Edgestream Partners L.P. purchased a new stake in Autodesk during the first quarter valued at $656,000. Private Asset Management Inc. raised its stake in Autodesk by 1.6% in the second quarter. Private Asset Management Inc. now owns 36,782 shares of the software company’s stock valued at $3,708,000 after buying an additional 570 shares during the period. Glaxis Capital Management LLC purchased a new stake in Autodesk during the second quarter valued at $2,189,000. Finally, Bank of Nova Scotia raised its stake in Autodesk by 931.6% in the first quarter. Bank of Nova Scotia now owns 44,700 shares of the software company’s stock valued at $3,865,000 after buying an additional 40,367 shares during the period. Institutional investors and hedge funds own 97.73% of the company’s stock.
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Autodesk (NASDAQ ADSK) traded up 0.62% on Tuesday, reaching $108.56. The company’s stock had a trading volume of 1,164,390 shares. The stock has a 50 day moving average price of $107.66 and a 200-day moving average price of $96.76. Autodesk has a 1-year low of $62.60 and a 1-year high of $115.25. The company’s market capitalization is $23.93 billion.
Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.08. The firm had revenue of $485.70 million during the quarter, compared to analyst estimates of $470.27 million. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) EPS. Equities analysts predict that Autodesk will post ($0.56) earnings per share for the current fiscal year.
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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