Autodesk (NASDAQ:ADSK) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Autodesk (NASDAQ:ADSK) from a buy rating to a hold rating in a report released on Monday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Piper Sandler dropped their target price on Autodesk from $369.00 to $338.00 and set an “overweight” rating for the company in a report on Friday, August 28th. UBS Group lifted their price target on Autodesk from $290.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. KeyCorp reiterated an “overweight” rating on shares of Autodesk in a research report on Wednesday, August 19th. Jefferies Financial Group raised Autodesk to a “strong-buy” rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group initiated coverage on shares of Autodesk in a report on Tuesday, August 11th. They issued a “neutral” rating and a $260.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $317.88.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $228.93 on Monday. The stock has a market cap of $47.85 billion, a PE ratio of 29.62, a PEG ratio of 1.39 and a beta of 1.31. The company’s fifty day moving average is $232.45 and its 200 day moving average is $232.08. Autodesk has a 52 week low of $185.50 and a 52 week high of $326.71. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.59.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.18. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the business posted $2.62 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Research analysts anticipate that Autodesk will post 9.72 earnings per share for the current year.

Insider Buying and Selling

In other Autodesk news, Director John Cahill acquired 2,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the acquisition, the director owned 4,000 shares in the company, valued at $756,800. This represents a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Autodesk

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its holdings in Autodesk by 18,825.0% in the second quarter. California State Teachers Retirement System now owns 58,596,827 shares of the software company’s stock worth $11,392,395,000 after purchasing an additional 58,287,201 shares in the last quarter. BlackRock Inc. purchased a new position in Autodesk during the second quarter valued at $4,828,855,000. Geode Capital Management LLC increased its holdings in shares of Autodesk by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock valued at $1,677,404,000 after acquiring an additional 123,691 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Autodesk by 46.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock worth $884,884,000 after purchasing an additional 952,343 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Autodesk in the 4th quarter worth about $867,480,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc develops software and cloud-based services for people and organizations that design, make and manage products, buildings, infrastructure and digital media. Its tools are used across architecture, engineering, construction, manufacturing, product design, media and entertainment, and related industries.

The company is best known for AutoCAD, its computer-aided design platform. Its broader portfolio includes Revit for building information modeling, Civil 3D for civil engineering, Inventor and Fusion for product design and manufacturing, Maya and 3ds Max for animation and visual effects, and construction-focused products such as Autodesk Construction Cloud.