Autodesk (NASDAQ:ADSK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Autodesk (NASDAQ:ADSK) from a hold rating to a buy rating in a research report sent to investors on Sunday,Wall Street Zen reports.

ADSK has been the subject of a number of other reports. Morgan Stanley cut their price target on Autodesk from $350.00 to $315.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Piper Sandler decreased their price objective on Autodesk from $369.00 to $338.00 and set an “overweight” rating on the stock in a research note on Friday, August 28th. BMO Capital Markets lifted their price objective on Autodesk from $262.00 to $283.00 and gave the stock a “market perform” rating in a research report on Friday, August 28th. BTIG Research reissued a “buy” rating and issued a $300.00 target price on shares of Autodesk in a research note on Friday, August 28th. Finally, Berenberg Bank set a $333.00 target price on shares of Autodesk in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.19.

Autodesk Stock Down 2.6%

ADSK stock opened at $212.21 on Friday. The company’s 50 day simple moving average is $231.71 and its 200-day simple moving average is $232.33. The firm has a market capitalization of $44.35 billion, a PE ratio of 27.45, a P/E/G ratio of 1.43 and a beta of 1.31. Autodesk has a 12 month low of $185.50 and a 12 month high of $326.87. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.86 and a quick ratio of 0.86.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.18. Autodesk had a return on equity of 58.63% and a net margin of 21.08%.The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $2.62 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Equities analysts expect that Autodesk will post 9.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John T. Cahill acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the acquisition, the director directly owned 4,000 shares in the company, valued at $756,800. This trade represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Janesh Moorjani acquired 2,500 shares of Autodesk stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of $197.67 per share, for a total transaction 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. Additional details regarding this purchase are available in the official SEC disclosure. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its stake in shares of Autodesk by 18,825.0% in the 2nd quarter. California State Teachers Retirement System now owns 58,596,827 shares of the software company’s stock valued at $11,392,395,000 after acquiring an additional 58,287,201 shares during the period. BlackRock Inc. purchased a new position in Autodesk in the second quarter valued at about $4,828,855,000. State Street Corp lifted its stake in shares of Autodesk by 0.7% during the fourth quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock worth $3,006,818,000 after purchasing an additional 70,053 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Autodesk by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock worth $1,677,404,000 after buying an additional 123,691 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Autodesk by 5.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company’s stock valued at $752,824,000 after buying an additional 155,255 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

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.