Autodesk (NASDAQ:ADSK) Lowered to “Neutral” at Mizuho

Mizuho cut shares of Autodesk (NASDAQ:ADSKGet Rating) from a buy rating to a neutral rating in a research note released on Wednesday morning, reports. They currently have $210.00 price target on the software company’s stock, down from their prior price target of $260.00.

Several other equities research analysts have also recently commented on ADSK. Oppenheimer cut their price target on shares of Autodesk from $255.00 to $220.00 and set an outperform rating on the stock in a research report on Wednesday. Royal Bank of Canada upped their target price on Autodesk from $257.00 to $260.00 and gave the stock an outperform rating in a report on Monday. Bank of America started coverage on Autodesk in a research note on Wednesday, August 3rd. They issued a neutral rating and a $220.00 price target for the company. Stifel Nicolaus reiterated a buy rating and set a $270.00 price objective on shares of Autodesk in a research note on Thursday, November 17th. Finally, Wolfe Research started coverage on shares of Autodesk in a research note on Tuesday, August 16th. They issued an outperform rating and a $270.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $241.57.

Autodesk Stock Down 5.7 %

Shares of Autodesk stock opened at $197.07 on Wednesday. The firm has a market cap of $42.54 billion, a PE ratio of 77.89, a P/E/G ratio of 1.83 and a beta of 1.49. The business’s 50 day simple moving average is $201.79 and its 200 day simple moving average is $198.87. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.64 and a current ratio of 0.64. Autodesk has a 52-week low of $163.20 and a 52-week high of $285.38.

Autodesk (NASDAQ:ADSKGet Rating) last issued its quarterly earnings results on Tuesday, November 22nd. The software company reported $1.70 earnings per share for the quarter, hitting the consensus estimate of $1.70. Autodesk had a net margin of 11.76% and a return on equity of 88.57%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. On average, analysts predict that Autodesk will post 4.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew Anagnost sold 34,366 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the sale, the chief executive officer now owns 76,968 shares in the company, valued at approximately $15,922,370.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Fort Pitt Capital Group LLC grew its holdings in shares of Autodesk by 14.0% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,224 shares of the software company’s stock valued at $210,000 after purchasing an additional 150 shares during the last quarter. Aaron Wealth Advisors LLC bought a new stake in shares of Autodesk during the first quarter worth $552,000. Vanguard Group Inc. grew its stake in shares of Autodesk by 1.3% during the first quarter. Vanguard Group Inc. now owns 17,944,670 shares of the software company’s stock worth $3,846,439,000 after buying an additional 230,892 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Autodesk in the 1st quarter valued at $64,000. Finally, Tcwp LLC bought a new position in shares of Autodesk in the 1st quarter valued at $112,000. Institutional investors and hedge funds own 86.44% of the company’s stock.

About Autodesk

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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