Berenberg Bank began coverage on shares of Autodesk, Inc. (NASDAQ:ADSK) in a report published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $136.00 price target on the software company’s stock.
Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity reissued a buy rating and set a $120.00 target price on shares of Autodesk in a research note on Wednesday, June 21st. BidaskClub cut shares of Autodesk from a strong-buy rating to a buy rating in a research note on Friday, August 11th. ValuEngine raised shares of Autodesk from a sell rating to a hold rating in a research note on Friday, June 2nd. Barclays PLC raised their target price on shares of Autodesk from $114.00 to $120.00 and gave the company an overweight rating in a research note on Friday, August 18th. Finally, Cowen and Company reissued a buy rating and set a $115.00 target price on shares of Autodesk in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $109.86.
Shares of Autodesk (NASDAQ:ADSK) opened at 114.97 on Wednesday. Autodesk has a 12 month low of $65.06 and a 12 month high of $119.73. The firm’s market capitalization is $25.34 billion. The firm’s 50-day moving average price is $109.09 and its 200 day moving average price is $97.98. Autodesk also was the recipient of some unusual options trading activity on Thursday. Stock traders bought 13,973 put options on the stock. This is an increase of approximately 858% compared to the typical daily volume of 1,459 put options.
Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.05. The firm had revenue of $501.80 million for the quarter, compared to analysts’ expectations of $493.98 million. Autodesk had a negative net margin of 30.01% and a negative return on equity of 51.29%. Autodesk’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. Analysts anticipate that Autodesk will post ($0.56) earnings per share for the current fiscal year.
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In related news, SVP Steven M. Blum sold 6,638 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $112.71, for a total transaction of $748,168.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Scott Herren sold 35,595 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $111.84, for a total transaction of $3,980,944.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,705 shares of company stock valued at $17,590,771. 6.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Autodesk by 3,291.0% in the first quarter. BlackRock Inc. now owns 15,261,046 shares of the software company’s stock valued at $1,319,622,000 after buying an additional 14,810,994 shares in the last quarter. FMR LLC boosted its stake in Autodesk by 13.9% in the first quarter. FMR LLC now owns 30,271,360 shares of the software company’s stock valued at $2,617,565,000 after buying an additional 3,698,259 shares in the last quarter. Wellington Management Group LLP boosted its stake in Autodesk by 104.4% in the first quarter. Wellington Management Group LLP now owns 4,725,602 shares of the software company’s stock valued at $408,622,000 after buying an additional 2,413,134 shares in the last quarter. Sustainable Growth Advisers LP bought a new stake in Autodesk during the second quarter valued at approximately $208,956,000. Finally, Renaissance Technologies LLC bought a new stake in Autodesk during the second quarter valued at approximately $140,338,000. Institutional investors and hedge funds 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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