Autodesk (NASDAQ:ADSK) Now Covered by DA Davidson

Research analysts at DA Davidson began coverage on shares of Autodesk (NASDAQ:ADSK) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $260.00 price target on the software company’s stock. DA Davidson’s target price points to a potential downside of 4.38% from the company’s current price.

Other research analysts have also issued research reports about the company. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and lifted their target price for the stock from $242.00 to $299.00 in a research report on Tuesday, September 3rd. Citigroup boosted their price objective on Autodesk from $316.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley boosted their price objective on Autodesk from $305.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Bank of America boosted their price objective on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Rosenblatt Securities boosted their price objective on Autodesk from $290.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average target price of $290.47.

Autodesk Price Performance

Shares of ADSK opened at $271.90 on Friday. The firm has a market cap of $58.60 billion, a price-to-earnings ratio of 58.85, a PEG ratio of 3.41 and a beta of 1.48. The stock has a 50 day moving average of $252.43 and a 200-day moving average of $240.23. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a 52 week low of $192.01 and a 52 week high of $279.53.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. As a group, analysts forecast that Autodesk will post 5.73 EPS for the current year.

Insider Transactions at Autodesk

In other news, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the sale, the chief operating officer now owns 34,443 shares of the company’s stock, valued at approximately $8,610,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Steven M. Blum sold 19,693 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $250.00, for a total value of $4,923,250.00. Following the sale, the chief operating officer now directly owns 34,443 shares in the company, valued at $8,610,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,687 shares of company stock valued at $10,027,986. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Autodesk during the fourth quarter worth $25,000. Concord Wealth Partners acquired a new stake in shares of Autodesk during the first quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in shares of Autodesk during the first quarter worth $25,000. LRI Investments LLC acquired a new stake in shares of Autodesk during the first quarter worth $26,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Autodesk during the second quarter worth $26,000. 90.24% of the stock is owned by institutional investors and hedge funds.

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.