Autodesk (NASDAQ:ADSK) PT Lowered to $220.00

Autodesk (NASDAQ:ADSKGet Rating) had its price target lowered by Stifel Nicolaus from $270.00 to $220.00 in a report published on Wednesday, The Fly reports.

Several other brokerages have also recently weighed in on ADSK. Wolfe Research began coverage on Autodesk in a research report on Tuesday, August 16th. They set an outperform rating and a $270.00 price target for the company. Oppenheimer cut their target price on shares of Autodesk from $255.00 to $220.00 and set an outperform rating for the company in a report on Wednesday. KeyCorp lowered their price target on shares of Autodesk from $264.00 to $237.00 and set an overweight rating on the stock in a report on Wednesday. Barclays decreased their price objective on shares of Autodesk from $275.00 to $225.00 and set an overweight rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. started coverage on Autodesk in a research report on Friday, September 16th. They set a neutral rating and a $203.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $241.57.

Autodesk Stock Down 5.7 %

ADSK stock opened at $197.07 on Wednesday. The company has a market capitalization of $42.54 billion, a P/E ratio of 77.89, a price-to-earnings-growth ratio of 1.83 and a beta of 1.49. Autodesk has a 12 month low of $163.20 and a 12 month high of $285.38. The firm’s fifty 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 current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSKGet Rating) last posted its earnings results on Tuesday, November 22nd. The software company reported $1.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.70. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. Autodesk had a net margin of 11.76% and a return on equity of 88.57%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts forecast that Autodesk will post 4.13 earnings per share for the current year.

Insider Transactions at Autodesk

In related news, CEO Andrew Anagnost sold 34,366 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 76,968 shares of the company’s stock, valued at approximately $15,922,370.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On Autodesk

A number of large investors have recently made changes to their positions in ADSK. Venture Visionary Partners LLC acquired a new position in Autodesk during the second quarter worth $30,000. TD Capital Management LLC purchased a new position in shares of Autodesk during the 3rd quarter worth $30,000. Resources Management Corp CT ADV boosted its position in shares of Autodesk by 1,100.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 180 shares of the software company’s stock valued at $31,000 after acquiring an additional 165 shares during the last quarter. CNB Bank grew its holdings in shares of Autodesk by 107.9% in the second quarter. CNB Bank now owns 185 shares of the software company’s stock valued at $32,000 after purchasing an additional 96 shares during the period. Finally, First Manhattan Co. increased its position in Autodesk by 342.9% during the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after purchasing an additional 120 shares during the last quarter. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Company Profile

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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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