Autodesk (NASDAQ:ADSK) PT Lowered to $275.00 at Oppenheimer

Autodesk (NASDAQ:ADSK) had its target price trimmed by Oppenheimer from $315.00 to $275.00 in a research report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the software company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada restated an outperform rating and set a $320.00 price target on shares of Autodesk in a report on Monday, April 1st. Rosenblatt Securities upped their price target on shares of Autodesk from $265.00 to $290.00 and gave the company a buy rating in a report on Friday, March 1st. StockNews.com cut shares of Autodesk from a strong-buy rating to a buy rating in a research note on Friday, April 26th. Piper Sandler increased their target price on shares of Autodesk from $234.00 to $260.00 and gave the company a neutral rating in a research note on Friday, March 1st. Finally, BMO Capital Markets increased their target price on shares of Autodesk from $232.00 to $293.00 and gave the company a market perform rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Autodesk currently has an average rating of Hold and a consensus price target of $270.17.

Autodesk Trading Down 0.1 %

Shares of NASDAQ:ADSK opened at $214.89 on Thursday. The stock has a market capitalization of $46.30 billion, a PE ratio of 51.04, a P/E/G ratio of 2.95 and a beta of 1.45. Autodesk has a 1 year low of $192.01 and a 1 year high of $279.53. The firm has a fifty day moving average price of $231.60 and a 200 day moving average price of $237.45. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results 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. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Analysts expect that Autodesk will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at $898,621.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mary T. Mcdowell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the completion of the sale, the director now owns 33,766 shares of the company’s stock, valued at $9,285,650. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the sale, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The disclosure for this sale can be found here. Insiders sold 35,616 shares of company stock valued at $9,319,448 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC increased its holdings in shares of Autodesk by 12.2% during the fourth quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock worth $378,000 after buying an additional 169 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Autodesk by 86.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock valued at $1,959,000 after purchasing an additional 4,381 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Autodesk in the third quarter valued at approximately $330,000. abrdn plc increased its holdings in shares of Autodesk by 26.2% in the fourth quarter. abrdn plc now owns 460,759 shares of the software company’s stock valued at $112,186,000 after purchasing an additional 95,723 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Autodesk in the fourth quarter valued at approximately $7,280,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.