Autodesk (NASDAQ:ADSK) Price Target Cut to $275.00

Autodesk (NASDAQ:ADSK) had its target price cut by Oppenheimer from $315.00 to $275.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the software company’s stock.

A number of other research firms also recently commented on ADSK. BMO Capital Markets increased their price objective on Autodesk from $232.00 to $293.00 and gave the company a market perform rating in a report on Friday, March 1st. Rosenblatt Securities upped their target price on Autodesk from $265.00 to $290.00 and gave the company a buy rating in a research report on Friday, March 1st. Barclays upped their target price on Autodesk from $300.00 to $310.00 and gave the company an overweight rating in a research report on Friday, March 1st. Stifel Nicolaus reissued a buy rating and issued a $316.00 target price on shares of Autodesk in a research report on Friday, April 12th. Finally, StockNews.com cut Autodesk from a strong-buy rating to a buy rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $270.17.

Autodesk Trading Down 0.1 %

ADSK opened at $214.89 on Thursday. Autodesk has a 12 month low of $192.01 and a 12 month high of $279.53. The stock has a market capitalization of $46.30 billion, a price-to-earnings ratio of 51.04, a PEG ratio of 2.95 and a beta of 1.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. The business has a fifty day moving average price of $231.60 and a 200 day moving average price of $237.45.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts expect that Autodesk will post 5.38 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the sale, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mary T. Mcdowell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $275.00, for a total value of $1,375,000.00. Following the completion of the transaction, the director now directly owns 33,766 shares of the company’s stock, valued at approximately $9,285,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The disclosure for this sale can be found here. Insiders sold 35,616 shares of company stock valued at $9,319,448 in the last three months. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Autodesk

Hedge funds have recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in Autodesk in the 1st quarter valued at approximately $25,000. Concord Wealth Partners purchased a new position in Autodesk in the 1st quarter valued at approximately $25,000. LRI Investments LLC purchased a new position in Autodesk in the 1st quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Autodesk during the fourth quarter worth $25,000. Finally, Bfsg LLC purchased a new position in Autodesk during the fourth quarter worth $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Company Profile

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.