Oppenheimer reiterated their outperform rating on shares of Autodesk (NASDAQ:ADSK – Free Report) in a report published on Tuesday, Benzinga reports. Oppenheimer currently has a $275.00 price target on the software company’s stock.
Several other equities analysts have also commented on the company. Robert W. Baird reduced their price target on Autodesk from $296.00 to $289.00 and set an outperform rating on the stock in a research report on Wednesday, May 29th. Royal Bank of Canada reaffirmed an outperform rating and issued a $260.00 price target on shares of Autodesk in a report on Tuesday. Barclays reduced their target price on Autodesk from $310.00 to $275.00 and set an overweight rating on the stock in a report on Wednesday, June 12th. Mizuho lowered their price target on Autodesk from $270.00 to $230.00 and set a neutral rating for the company in a report on Tuesday, June 4th. Finally, Rosenblatt Securities restated a buy rating and set a $290.00 price objective on shares of Autodesk in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $262.42.
View Our Latest Report on ADSK
Autodesk Trading Down 0.2 %
Shares of ADSK opened at $243.51 on Tuesday. The stock’s fifty day simple moving average is $218.70 and its 200 day simple moving average is $238.15. The firm has a market capitalization of $52.48 billion, a P/E ratio of 52.71, a price-to-earnings-growth ratio of 3.26 and a beta of 1.43. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.06. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53.
Autodesk (NASDAQ:ADSK – Get Free Report) last announced its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.10. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. Autodesk’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 earnings per share. On average, equities research analysts forecast that Autodesk will post 5.55 earnings per share for the current year.
Insider Activity
In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the sale, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at $898,621.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Deborah Clifford sold 5,553 shares of Autodesk stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.01, for a total transaction of $1,443,835.53. Following the completion of the sale, the chief financial officer now owns 32,259 shares of the company’s stock, valued at $8,387,662.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the sale, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The disclosure for this sale can be found here. Insiders sold a total of 47,501 shares of company stock valued at $11,714,162 over the last three months. Insiders own 0.14% of the company’s stock.
Institutional Investors Weigh In On Autodesk
Several institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in Autodesk by 263.6% in the 1st 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 acquiring an additional 4,563,668 shares during the period. Norges Bank acquired a new position in Autodesk in the 4th quarter valued at approximately $619,404,000. Meritage Group LP acquired a new stake in shares of Autodesk during the 3rd quarter worth approximately $170,972,000. Van ECK Associates Corp increased its holdings in Autodesk by 1,162.9% in the 1st quarter. Van ECK Associates Corp now owns 817,808 shares of the software company’s stock valued at $212,973,000 after buying an additional 753,051 shares during the period. Finally, FIL Ltd boosted its position in shares of Autodesk by 19.6% during the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after acquiring an additional 479,559 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.
About Autodesk
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.
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