Autodesk, Inc. (NASDAQ:ADSK) had its price objective raised by Cowen and Company from $115.00 to $128.00 in a research note released on Friday morning. They currently have an outperform rating on the software company’s stock.
ADSK has been the topic of a number of other reports. BidaskClub upgraded Autodesk from a buy rating to a strong-buy rating in a research note on Thursday. Royal Bank Of Canada lifted their price target on Autodesk from $87.00 to $95.00 and gave the company a sector perform rating in a research note on Wednesday, May 17th. Zacks Investment Research downgraded Autodesk from a hold rating to a sell rating in a research note on Tuesday, July 18th. KeyCorp lifted their price target on Autodesk from $115.00 to $128.00 and gave the company an overweight rating in a research note on Friday. Finally, Wedbush restated an outperform rating and issued a $125.00 price target (up from $120.00) on shares of Autodesk in a research note on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $110.09.
Shares of Autodesk (NASDAQ ADSK) traded up 3.94% during trading on Friday, reaching $114.97. 7,121,029 shares of the company’s stock traded hands. The stock’s market cap is $25.24 billion. The company has a 50 day moving average price of $109.09 and a 200-day moving average price of $97.98. Autodesk has a one year low of $65.06 and a one year high of $119.73. Autodesk also was the recipient of some unusual options trading on Thursday. Traders acquired 13,973 put options on the company. This represents an increase of 858% compared to the average volume of 1,459 put options.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.05. Autodesk had a negative return on equity of 51.29% and a negative net margin of 30.01%. The firm had revenue of $501.80 million for the quarter, compared to the consensus estimate of $493.98 million. During the same period in the previous year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, equities research analysts expect that Autodesk will post ($0.56) EPS for the current fiscal year.
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In related news, Director Betsy Rafael sold 2,354 shares of the company’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $106.24, for a total value of $250,088.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl Bass sold 27,201 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $101.73, for a total value of $2,767,157.73. The disclosure for this sale can be found here. Insiders sold 167,705 shares of company stock worth $17,590,771 over the last 90 days. Company insiders own 6.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its position in Autodesk by 43.4% in the first quarter. Bank of Montreal Can now owns 103,597 shares of the software company’s stock valued at $8,958,000 after buying an additional 31,331 shares during the last quarter. DnB Asset Management AS raised its position in Autodesk by 8.2% in the first quarter. DnB Asset Management AS now owns 19,828 shares of the software company’s stock valued at $1,715,000 after buying an additional 1,500 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Autodesk during the first quarter valued at approximately $257,000. Candriam Luxembourg S.C.A. raised its position in Autodesk by 37.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 12,328 shares of the software company’s stock valued at $1,066,000 after buying an additional 3,339 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in Autodesk by 3.0% in the first quarter. Nationwide Fund Advisors now owns 106,476 shares of the software company’s stock valued at $9,207,000 after buying an additional 3,082 shares during the last quarter. Hedge funds and other institutional investors own 97.73% of the company’s stock.
About Autodesk
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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