Morgan Stanley Begins Coverage on Autodesk (NASDAQ:ADSK)

Morgan Stanley initiated coverage on shares of Autodesk (NASDAQ:ADSK) in a research report issued to clients and investors on Friday, StockNewsAPI reports. The firm set an “overweight” rating and a $305.00 price target on the software company’s stock. Morgan Stanley’s price target points to a potential upside of 22.04% from the company’s previous close.

ADSK has been the topic of a number of other research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $290.00 target price on shares of Autodesk in a research note on Wednesday, June 12th. Mizuho decreased their price objective on Autodesk from $270.00 to $230.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 target price on shares of Autodesk in a research note on Tuesday, June 18th. Barclays reduced their target price on shares of Autodesk from $310.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Finally, KeyCorp decreased their price target on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Autodesk currently has an average rating of “Hold” and an average price target of $265.05.

Autodesk Stock Performance

Shares of ADSK stock opened at $249.91 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $53.86 billion, a PE ratio of 54.09, a P/E/G ratio of 3.23 and a beta of 1.48. Autodesk has a 1 year low of $192.01 and a 1 year high of $279.53. The stock has a fifty day moving average price of $243.99 and a 200 day moving average price of $239.48.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.10. Autodesk had a return on equity of 65.46% and a net margin of 17.66%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted $1.55 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts forecast that Autodesk will post 5.55 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the transaction, the director now owns 31,566 shares in the company, valued at approximately $7,418,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Monday, June 17th. The shares were sold at an average price of $235.00, for a total transaction of $129,250.00. Following the transaction, the director now owns 31,566 shares in the company, valued at approximately $7,418,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 1,100 shares of Autodesk stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.21, for a total transaction of $248,831.00. Following the transaction, the director now owns 32,116 shares in the company, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Insiders sold 39,931 shares of company stock valued at $9,537,781 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Institutional investors have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in Autodesk in the 1st quarter worth $25,000. Concord Wealth Partners acquired a new position in Autodesk in the 1st quarter worth $25,000. LRI Investments LLC acquired a new stake in shares of Autodesk in the 1st quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Autodesk in the 4th quarter valued at about $25,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Autodesk in the 2nd quarter valued at about $26,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.