BidaskClub cut shares of Autodesk, Inc. (NASDAQ:ADSK) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.
Several other equities research analysts have also recently issued reports on ADSK. William Blair reaffirmed an outperform rating on shares of Autodesk in a research note on Sunday, May 21st. Zacks Investment Research raised shares of Autodesk from a sell rating to a hold rating in a research note on Wednesday, May 3rd. Morgan Stanley raised shares of Autodesk from an equal weight rating to an overweight rating and raised their price target for the stock from $69.00 to $115.00 in a research note on Monday, May 1st. Royal Bank of Canada raised their price target on shares of Autodesk from $87.00 to $95.00 and gave the stock a sector perform rating in a research note on Wednesday, May 17th. Finally, TheStreet cut shares of Autodesk from a c- rating to a d rating in a research note on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $103.94.
Shares of Autodesk (NASDAQ ADSK) opened at 103.32 on Tuesday. The stock’s 50 day moving average is $106.57 and its 200-day moving average is $89.78. The stock’s market cap is $22.77 billion. Autodesk has a 1-year low of $53.73 and a 1-year high of $114.68.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.08. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The business had revenue of $485.70 million during the quarter, compared to the consensus estimate of $470.27 million. During the same quarter last year, the firm posted ($0.10) EPS. The business’s revenue was down 5.1% compared to the same quarter last year. On average, analysts predict that Autodesk will post ($0.58) EPS for the current fiscal year.
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In related news, Director Betsy Rafael sold 2,354 shares of Autodesk stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $106.24, for a total value of $250,088.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Steven M. Blum sold 6,638 shares of Autodesk stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $112.71, for a total transaction of $748,168.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 173,659 shares of company stock valued at $18,128,745. Insiders own 6.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. British Columbia Investment Management Corp raised its stake in Autodesk by 11.8% in the first quarter. British Columbia Investment Management Corp now owns 112,143 shares of the software company’s stock valued at $9,697,000 after buying an additional 11,871 shares during the last quarter. Vident Investment Advisory LLC raised its stake in Autodesk by 26.5% in the fourth quarter. Vident Investment Advisory LLC now owns 17,669 shares of the software company’s stock valued at $1,308,000 after buying an additional 3,702 shares during the last quarter. Teachers Advisors LLC raised its stake in Autodesk by 131.2% in the fourth quarter. Teachers Advisors LLC now owns 621,633 shares of the software company’s stock valued at $46,007,000 after buying an additional 352,758 shares during the last quarter. Stifel Financial Corp raised its stake in Autodesk by 7.4% in the first quarter. Stifel Financial Corp now owns 121,523 shares of the software company’s stock valued at $10,512,000 after buying an additional 8,402 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK raised its stake in Autodesk by 10.3% in the first quarter. Aberdeen Asset Management PLC UK now owns 36,732 shares of the software company’s stock valued at $3,176,000 after buying an additional 3,440 shares during the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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