Autodesk (NASDAQ:ADSK) had its target price reduced by equities research analysts at Wedbush from $166.00 to $164.00 in a research note issued on Friday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the software company’s stock. Wedbush’s price objective would suggest a potential upside of 1.72% from the company’s current price.
A number of other research firms have also recently weighed in on ADSK. Evercore ISI reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Autodesk in a report on Thursday, March 21st. Argus increased their price objective on shares of Autodesk to $184.00 and gave the stock an “average” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Autodesk from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. BidaskClub cut shares of Autodesk from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus set a $185.00 price objective on shares of Autodesk and gave the stock an “in-line” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Autodesk has an average rating of “Buy” and an average price target of $173.63.
ADSK stock opened at $161.22 on Friday. Autodesk has a fifty-two week low of $117.72 and a fifty-two week high of $178.95. The stock has a market capitalization of $35.49 billion, a P/E ratio of 1,465.64, a PEG ratio of 2.60 and a beta of 1.95.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, May 23rd. The software company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). The company had revenue of $735.50 million for the quarter, compared to analyst estimates of $740.14 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 31.4% on a year-over-year basis. Analysts expect that Autodesk will post 1.76 earnings per share for the current year.
In related news, Director Crawford W. Beveridge sold 1,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $152.90, for a total value of $152,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steven M. Blum sold 16,838 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $168.68, for a total transaction of $2,840,233.84. The disclosure for this sale can be found here. Insiders sold a total of 58,577 shares of company stock valued at $9,509,716 in the last quarter. 0.12% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. First Bank & Trust boosted its position in shares of Autodesk by 326.5% during the 4th quarter. First Bank & Trust now owns 4,129 shares of the software company’s stock valued at $531,000 after purchasing an additional 3,161 shares in the last quarter. Actinver Wealth Management Inc. bought a new position in shares of Autodesk during the 4th quarter valued at about $645,000. First Foundation Advisors bought a new position in shares of Autodesk during the 4th quarter valued at about $541,000. Pinnacle Associates Ltd. boosted its position in shares of Autodesk by 12.8% during the 4th quarter. Pinnacle Associates Ltd. now owns 56,650 shares of the software company’s stock valued at $7,286,000 after purchasing an additional 6,445 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its position in shares of Autodesk by 16.6% during the 4th quarter. Raymond James Trust N.A. now owns 8,588 shares of the software company’s stock valued at $1,104,000 after purchasing an additional 1,223 shares in the last quarter. Hedge funds and other institutional investors own 95.55% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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