Autodesk (NASDAQ:ADSK) Stock Rating Lowered by Hsbc Global Res

Autodesk (NASDAQ:ADSK) was downgraded by investment analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday,Zacks.com reports.

Other research analysts have also issued reports about the company. Stifel Nicolaus increased their target price on Autodesk from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Piper Sandler lifted their target price on shares of Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a report on Wednesday. Robert W. Baird raised their price objective on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. The Goldman Sachs Group upgraded Autodesk from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Finally, Bank of America raised their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average price target of $315.10.

Autodesk Trading Up 0.4 %

Shares of ADSK opened at $291.90 on Friday. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The stock has a fifty day moving average of $289.93 and a two-hundred day moving average of $257.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65. The company has a market capitalization of $62.76 billion, a PE ratio of 57.92, a price-to-earnings-growth ratio of 3.71 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. As a group, analysts forecast that Autodesk will post 5.74 EPS for the current year.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,936 shares of company stock valued at $549,333 in the last quarter. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. FMR LLC raised its holdings in shares of Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after buying an additional 46,069 shares during the last quarter. Ninety One UK Ltd boosted its position in shares of Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after buying an additional 1,108,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Autodesk by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after buying an additional 61,785 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after acquiring an additional 245,816 shares during the period. 90.24% of the stock is currently 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.