Berenberg Bank Lowers Autodesk (NASDAQ:ADSK) to Hold

Berenberg Bank downgraded shares of Autodesk (NASDAQ:ADSK) from a buy rating to a hold rating in a research report sent to investors on Wednesday, MarketBeat reports. Berenberg Bank currently has $295.00 price objective on the software company’s stock.

A number of other research firms have also recently weighed in on ADSK. Oppenheimer upped their target price on shares of Autodesk from $265.00 to $315.00 and gave the company an outperform rating in a research note on Friday, March 1st. Piper Sandler Companies upped their price objective on Autodesk from $234.00 to $260.00 and gave the company a neutral rating in a research note on Friday, March 1st. Barclays raised their target price on Autodesk from $300.00 to $310.00 and gave the stock an overweight rating in a research report on Friday, March 1st. Citigroup upped their price target on Autodesk from $276.00 to $307.00 and gave the company a buy rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada reissued an outperform rating and set a $320.00 price objective on shares of Autodesk in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $274.67.

Autodesk Trading Up 2.5 %

Shares of ADSK opened at $215.19 on Wednesday. The stock’s 50-day moving average price is $243.24 and its 200 day moving average price is $235.35. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $46.37 billion, a price-to-earnings ratio of 51.11, a P/E/G ratio of 2.89 and a beta of 1.45. Autodesk has a 12-month low of $189.54 and a 12-month high of $279.53.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. Autodesk’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. As a group, research analysts predict that Autodesk will post 5.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Rebecca Pearce sold 1,628 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the completion of the sale, the executive vice president now owns 13,620 shares of the company’s stock, valued at $3,425,974.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Autodesk news, EVP Rebecca Pearce sold 1,628 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $251.54, for a total value of $409,507.12. Following the transaction, the executive vice president now directly owns 13,620 shares in the company, valued at approximately $3,425,974.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the completion of the sale, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,166 shares of company stock valued at $9,465,055. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. VisionPoint Advisory Group LLC boosted its holdings in Autodesk by 21.5% during the fourth quarter. VisionPoint Advisory Group LLC now owns 237 shares of the software company’s stock worth $58,000 after buying an additional 42 shares during the last quarter. Bouvel Investment Partners LLC grew its holdings in Autodesk by 0.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock valued at $2,864,000 after purchasing an additional 44 shares during the period. Venturi Wealth Management LLC increased its stake in Autodesk by 3.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock valued at $306,000 after purchasing an additional 45 shares in the last quarter. Goodman Advisory Group LLC raised its holdings in Autodesk by 0.4% in the fourth quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock worth $2,770,000 after purchasing an additional 49 shares during the period. Finally, Epic Trust Investment Advisors LLC boosted its position in shares of Autodesk by 3.7% during the fourth quarter. Epic Trust Investment Advisors LLC now owns 1,360 shares of the software company’s stock worth $331,000 after purchasing an additional 49 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Company Profile

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.