Autodesk (NASDAQ:ADSK) Trading Down 7.4% – Time to Sell?

Autodesk, Inc. (NASDAQ:ADSK)’s stock price fell 7.4% during trading on Friday . The stock traded as low as $219.49 and last traded at $219.94. 651,576 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 2,299,992 shares. The stock had previously closed at $237.52.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a research report on Tuesday, May 26th. Barclays restated an “overweight” rating on shares of Autodesk in a research report on Wednesday, August 19th. Wall Street Zen downgraded Autodesk from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Weiss Ratings raised Autodesk from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $330.00 price objective on shares of Autodesk in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $321.19.

Autodesk Stock Down 8.3%

The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $45.51 billion, a P/E ratio of 28.11, a PEG ratio of 1.59 and a beta of 1.31. The company has a fifty day moving average price of $230.47 and a 200-day moving average price of $232.60.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.18. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%.The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.62 earnings per share. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. As a group, research analysts forecast that Autodesk, Inc. will post 9.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Autodesk news, Director John T. Cahill acquired 2,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director directly owned 4,000 shares of the company’s stock, valued at $756,800. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Janesh Moorjani acquired 2,500 shares of the company’s stock in a transaction on Monday, June 15th. The stock was acquired at an average cost of $197.67 per share, with a total value of $494,175.00. Following the completion of the purchase, the executive vice president directly owned 50,993 shares in the company, valued at approximately $10,079,786.31. This represents a 5.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Several hedge funds have recently made changes to their positions in ADSK. California State Teachers Retirement System grew its position in Autodesk by 18,825.0% in the second quarter. California State Teachers Retirement System now owns 58,596,827 shares of the software company’s stock worth $11,392,395,000 after acquiring an additional 58,287,201 shares in the last quarter. BlackRock Inc. purchased a new stake in Autodesk during the second quarter valued at approximately $4,828,855,000. State Street Corp raised its position in Autodesk by 0.7% during the fourth quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock valued at $3,006,818,000 after purchasing an additional 70,053 shares during the period. Geode Capital Management LLC lifted its stake in shares of Autodesk by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock valued at $1,677,404,000 after purchasing an additional 123,691 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Autodesk by 5.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company’s stock valued at $752,824,000 after purchasing an additional 155,255 shares during the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Company Profile

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.