Autodesk’s (ADSK) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler restated their neutral rating on shares of Autodesk (NASDAQ:ADSK) in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a $239.00 price objective on the software company’s stock.

A number of other brokerages also recently weighed in on ADSK. Rosenblatt Securities reaffirmed a buy rating and issued a $290.00 target price on shares of Autodesk in a research note on Wednesday. Bank of America lowered their price objective on shares of Autodesk from $300.00 to $260.00 and set a neutral rating on the stock in a research report on Monday, June 3rd. The Goldman Sachs Group upped their target price on shares of Autodesk from $180.00 to $230.00 and gave the stock a sell rating in a research report on Friday, March 1st. KeyCorp lowered their price target on Autodesk from $320.00 to $305.00 and set an overweight rating on the stock in a research report on Monday, May 20th. Finally, StockNews.com cut Autodesk from a strong-buy rating to a buy rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $262.42.

Autodesk Stock Up 1.2 %

Shares of NASDAQ:ADSK opened at $225.87 on Wednesday. The firm has a fifty day moving average price of $218.73 and a two-hundred day moving average price of $237.62. The company has a market cap of $48.79 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 2.95 and a beta of 1.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.75. Autodesk has a one year low of $192.01 and a one year high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.10. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $1.55 earnings per share. Analysts anticipate that Autodesk will post 5.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Autodesk news, CFO Deborah Clifford sold 5,553 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.01, for a total value of $1,443,835.53. Following the completion of the transaction, the chief financial officer now directly owns 32,259 shares in the company, valued at approximately $8,387,662.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The disclosure for this sale can be found here. Insiders have sold a total of 28,438 shares of company stock valued at $7,393,778 in the last quarter. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Institutional investors have recently bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Autodesk during the fourth quarter valued at approximately $25,000. Concord Wealth Partners purchased a new position in Autodesk during the first quarter valued at $25,000. New Covenant Trust Company N.A. bought a new stake in shares of Autodesk during the 1st quarter valued at $25,000. LRI Investments LLC purchased a new stake in shares of Autodesk in the 1st quarter worth about $26,000. Finally, Bfsg LLC bought a new position in shares of Autodesk in the 4th quarter worth about $27,000. 90.24% of the stock is owned by 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.