Autodesk (NASDAQ:ADSK) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Autodesk (NASDAQ:ADSK) in a research note released on Wednesday, Benzinga reports. The brokerage currently has a $290.00 target price on the software company’s stock.

Several other analysts also recently weighed in on ADSK. Bank of America lowered their target price on Autodesk from $300.00 to $260.00 and set a neutral rating for the company in a research note on Monday, June 3rd. BMO Capital Markets lifted their price target on shares of Autodesk from $232.00 to $293.00 and gave the company a market perform rating in a report on Friday, March 1st. Citigroup increased their price objective on shares of Autodesk from $276.00 to $307.00 and gave the stock a buy rating in a research note on Monday, February 26th. The Goldman Sachs Group raised their target price on shares of Autodesk from $180.00 to $230.00 and gave the stock a sell rating in a report on Friday, March 1st. Finally, Berenberg Bank lowered Autodesk from a buy rating to a hold rating and set a $295.00 target price for the company. in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $262.42.

Autodesk Price Performance

Shares of ADSK opened at $225.87 on Wednesday. The stock’s 50 day moving average is $218.73 and its two-hundred day moving average is $237.62. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53. The firm has a market capitalization of $48.79 billion, a PE ratio of 48.89, a P/E/G ratio of 2.95 and a beta of 1.43. The company has a current ratio of 0.69, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.77 by $0.10. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. Autodesk’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 earnings per share. Research analysts anticipate that Autodesk will post 5.59 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other news, CFO Deborah Clifford sold 5,553 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.01, for a total value of $1,443,835.53. Following the completion of the sale, the chief financial officer now owns 32,259 shares in the company, valued at $8,387,662.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction that occurred 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 transaction, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Deborah Clifford sold 5,553 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.01, for a total value of $1,443,835.53. Following the completion of the transaction, the chief financial officer now directly owns 32,259 shares in the company, valued at approximately $8,387,662.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,438 shares of company stock valued at $7,393,778. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Large investors have recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. purchased a new position in Autodesk in the 4th quarter worth about $25,000. Concord Wealth Partners acquired a new position in shares of Autodesk in the first quarter worth about $25,000. New Covenant Trust Company N.A. acquired a new position in shares of Autodesk in the first quarter worth about $25,000. LRI Investments LLC purchased a new position in shares of Autodesk in the first quarter worth approximately $26,000. Finally, Bfsg LLC acquired a new stake in shares of Autodesk during the fourth quarter valued at approximately $27,000. 90.24% of the stock is owned by institutional investors.

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.