Autodesk (NASDAQ:ADSK) Shares Down 3.7%

Autodesk, Inc. (NASDAQ:ADSK) shares dropped 3.7% during mid-day trading on Thursday . The company traded as low as $206.83 and last traded at $206.97. Approximately 355,927 shares traded hands during trading, a decline of 74% from the average daily volume of 1,362,015 shares. The stock had previously closed at $214.92.

Wall Street Analysts Forecast Growth

ADSK has been the topic of several research reports. KeyCorp upped their target price on Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price objective on shares of Autodesk in a research report on Monday, April 1st. TheStreet upgraded shares of Autodesk from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Citigroup raised their price target on shares of Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Oppenheimer upped their price objective on shares of Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $272.44.

Autodesk Trading Down 3.6 %

The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. The company’s 50 day moving average is $253.88 and its 200 day moving average is $235.09. The stock has a market capitalization of $44.29 billion, a price-to-earnings ratio of 51.05, a PEG ratio of 3.14 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. On average, research analysts forecast that Autodesk, Inc. will post 5.38 EPS for the current fiscal year.

Insider Activity at Autodesk

In related news, Director Stacy J. Smith sold 7,554 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $244.00, for a total value of $1,843,176.00. Following the sale, the director now owns 19,934 shares of the company’s stock, valued at approximately $4,863,896. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at approximately $27,354,327.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stacy J. Smith sold 7,554 shares of Autodesk stock in a transaction on Friday, January 19th. The shares were sold at an average price of $244.00, for a total value of $1,843,176.00. Following the completion of the sale, the director now directly owns 19,934 shares of the company’s stock, valued at $4,863,896. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,220 shares of company stock worth $11,933,231. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Autodesk

Hedge funds have recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC lifted its position in Autodesk by 21.5% in the 4th quarter. VisionPoint Advisory Group LLC now owns 237 shares of the software company’s stock valued at $58,000 after acquiring an additional 42 shares in the last quarter. Bouvel Investment Partners LLC boosted its holdings in shares of Autodesk by 0.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock worth $2,864,000 after buying an additional 44 shares during the period. Venturi Wealth Management LLC grew its position in shares of Autodesk by 3.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock valued at $306,000 after purchasing an additional 45 shares during the last quarter. Goodman Advisory Group LLC grew its holdings in Autodesk by 0.4% in the 4th quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock valued at $2,770,000 after buying an additional 49 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC grew its stake in shares of Autodesk by 3.7% in the fourth quarter. Epic Trust Investment Advisors LLC now owns 1,360 shares of the software company’s stock valued at $331,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.