Autodesk (NASDAQ:ADSK) Rating Lowered to Hold at HSBC

Autodesk (NASDAQ:ADSK) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Friday,Briefing.com Automated Import reports. They currently have a $290.00 price objective on the software company’s stock. HSBC’s price target would indicate a potential downside of 0.22% from the company’s previous close.

Other analysts have also issued research reports about the company. Rosenblatt Securities increased their price objective on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America boosted their price objective on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Robert W. Baird increased their target price on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Berenberg Bank boosted their price target on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company lifted their price objective on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.95.

Autodesk Stock Performance

NASDAQ ADSK opened at $290.64 on Friday. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a fifty day moving average of $289.44 and a 200-day moving average of $257.07. The company has a market capitalization of $62.49 billion, a P/E ratio of 59.44, a P/E/G ratio of 4.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business earned $1.33 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts predict that Autodesk will post 5.73 EPS for the current fiscal year.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the sale, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,936 shares of company stock worth $549,333 over the last quarter. 0.14% of the stock is currently owned by insiders.

Institutional Trading of Autodesk

Several large investors have recently modified their holdings of the company. Jag Capital Management LLC purchased a new position in Autodesk in the third quarter worth about $13,861,000. Cetera Investment Advisers lifted its stake in shares of Autodesk by 163.4% in the 1st quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock worth $16,035,000 after purchasing an additional 38,196 shares during the period. LMR Partners LLP purchased a new position in shares of Autodesk in the third quarter worth approximately $12,643,000. Forsta AP Fonden grew its position in Autodesk by 7.9% during the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after buying an additional 3,800 shares during the period. Finally, Bank of Montreal Can increased its holdings in Autodesk by 8.7% during the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after buying an additional 73,363 shares during the last quarter. Institutional investors 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.