Autodesk (NASDAQ:ADSK) Earns Neutral Rating from Analysts at DA Davidson

DA Davidson started coverage on shares of Autodesk (NASDAQ:ADSK) in a research report sent to investors on Friday, MarketBeat.com reports. The firm issued a neutral rating and a $260.00 price objective on the software company’s stock.

A number of other brokerages have also commented on ADSK. Oppenheimer upped their price target on shares of Autodesk from $275.00 to $300.00 and gave the company an outperform rating in a research note on Friday, August 30th. Piper Sandler upped their target price on Autodesk from $239.00 to $257.00 and gave the company a neutral rating in a research report on Friday, August 30th. Stifel Nicolaus lifted their price target on Autodesk from $290.00 to $320.00 and gave the stock a buy rating in a report on Friday, August 30th. Berenberg Bank upped their price objective on Autodesk from $286.00 to $299.00 and gave the company a hold rating in a report on Friday, August 30th. Finally, BMO Capital Markets lifted their target price on Autodesk from $254.00 to $287.00 and gave the stock a market perform rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Autodesk has an average rating of Moderate Buy and an average price target of $290.47.

Autodesk Price Performance

NASDAQ:ADSK opened at $275.48 on Friday. Autodesk has a 12-month low of $192.01 and a 12-month high of $279.53. The firm has a market capitalization of $59.37 billion, a price-to-earnings ratio of 59.63, a P/E/G ratio of 3.41 and a beta of 1.48. The stock’s 50 day moving average price is $253.04 and its two-hundred day moving average price is $240.06. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.12 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts anticipate that Autodesk will post 5.73 earnings per share for the current year.

Insider Activity

In related news, COO Steven M. Blum sold 19,693 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the sale, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at $8,610,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the sale, the director now owns 31,899 shares of the company’s stock, valued at approximately $7,916,693.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Steven M. Blum sold 19,693 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the completion of the transaction, the chief operating officer now directly owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,973 shares of company stock worth $10,106,590. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Autodesk by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 19,402,242 shares of the software company’s stock valued at $5,052,732,000 after buying an additional 363,565 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Autodesk by 263.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock worth $1,639,279,000 after purchasing an additional 4,563,668 shares during the period. Ninety One UK Ltd grew its stake in shares of Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after purchasing an additional 1,108,973 shares during the last quarter. FIL Ltd increased its holdings in Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after purchasing an additional 479,559 shares during the period. Finally, Legal & General Group Plc raised its position in Autodesk by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 2,117,357 shares of the software company’s stock worth $523,940,000 after purchasing an additional 81,314 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

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.