Autodesk, Inc. (NASDAQ:ADSK – Get Rating)’s stock price gapped down before the market opened on Friday after Robert W. Baird lowered their price target on the stock from $255.00 to $247.00. The stock had previously closed at $221.16, but opened at $203.19. Autodesk shares last traded at $199.47, with a volume of 937,578 shares trading hands.
Other research analysts also recently issued research reports about the stock. Barclays decreased their price objective on shares of Autodesk from $257.00 to $225.00 in a research report on Friday. Moffett Nathanson reduced their price objective on shares of Autodesk to $177.00 in a research report on Thursday, November 24th. Royal Bank of Canada lifted their target price on shares of Autodesk from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, February 17th. Piper Sandler lowered their price objective on Autodesk from $242.00 to $236.00 and set an “overweight” rating on the stock in a report on Friday, December 9th. Finally, Mizuho increased their target price on Autodesk from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday, February 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.64.
Insider Buying and Selling
In other Autodesk news, Director Betsy Rafael sold 309 shares of Autodesk stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $190.96, for a total transaction of $59,006.64. Following the completion of the sale, the director now directly owns 5,433 shares in the company, valued at $1,037,485.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Betsy Rafael sold 309 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $190.96, for a total transaction of $59,006.64. Following the completion of the transaction, the director now owns 5,433 shares of the company’s stock, valued at approximately $1,037,485.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 394 shares of the business’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $195.66, for a total value of $77,090.04. Following the completion of the sale, the chief accounting officer now directly owns 3,074 shares in the company, valued at approximately $601,458.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,564 shares of company stock valued at $512,444. 0.11% of the stock is currently owned by insiders.
Institutional Trading of Autodesk
A number of institutional investors and hedge funds have recently bought and sold shares of ADSK. SRS Capital Advisors Inc. increased its stake in Autodesk by 346.9% during the 2nd quarter. SRS Capital Advisors Inc. now owns 219 shares of the software company’s stock worth $38,000 after buying an additional 170 shares during the period. Natixis Investment Managers International increased its position in shares of Autodesk by 126.5% during the second quarter. Natixis Investment Managers International now owns 8,677 shares of the software company’s stock worth $1,492,000 after acquiring an additional 4,846 shares during the period. Apollon Wealth Management LLC raised its stake in shares of Autodesk by 4.7% in the second quarter. Apollon Wealth Management LLC now owns 2,564 shares of the software company’s stock valued at $441,000 after acquiring an additional 114 shares in the last quarter. Avitas Wealth Management LLC purchased a new position in Autodesk in the third quarter valued at $783,000. Finally, Janney Montgomery Scott LLC acquired a new position in Autodesk during the 3rd quarter worth $7,152,000. 87.89% of the stock is currently owned by hedge funds and other institutional investors.
Autodesk Trading Down 10.1 %
The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 2.52. The company has a market cap of $42.92 billion, a PE ratio of 70.48, a P/E/G ratio of 1.68 and a beta of 1.49. The company has a fifty day simple moving average of $204.62 and a two-hundred day simple moving average of $204.82.
Autodesk (NASDAQ:ADSK – Get Rating) last released its earnings results on Thursday, February 23rd. The software company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.05. Autodesk had a net margin of 12.64% and a return on equity of 108.29%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts anticipate that Autodesk, Inc. will post 4.09 EPS for the current year.
Autodesk announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 22nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the software company to reacquire up to 11.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Autodesk Company Profile
Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, and 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in the automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions.