Autodesk (NASDAQ:ADSK) Research Coverage Started at Macquarie

Macquarie assumed coverage on shares of Autodesk (NASDAQ:ADSK) in a research note released on Thursday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $380.00 target price on the software company’s stock.

A number of other analysts also recently commented on the company. Stifel Nicolaus increased their price target on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Hsbc Global Res lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Robert W. Baird increased their target price on shares of Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Wells Fargo & Company raised their price target on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Piper Sandler upped their price objective on Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.05.

Autodesk Stock Performance

Shares of ADSK opened at $303.77 on Thursday. Autodesk has a one year low of $195.32 and a one year high of $326.62. The company has a market cap of $65.31 billion, a PE ratio of 60.27, a P/E/G ratio of 3.62 and a beta of 1.43. The stock has a 50-day moving average of $296.76 and a 200-day moving average of $263.94. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm earned $1.33 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that Autodesk will post 5.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $285.31, for a total value of $156,920.50. Following the transaction, the director now directly owns 30,799 shares of the company’s stock, valued at approximately $8,787,262.69. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,936 shares of company stock worth $549,333 in the last 90 days. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Hedge funds have recently bought and sold shares of the business. Starboard Value LP bought a new position in shares of Autodesk in the 3rd quarter valued at about $510,189,000. Ninety One UK Ltd raised its position in Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after purchasing an additional 1,108,973 shares during the period. Van ECK Associates Corp lifted its stake in shares of Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock valued at $406,554,000 after purchasing an additional 825,165 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Autodesk by 366.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after purchasing an additional 662,339 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Autodesk by 58,375.5% during the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after purchasing an additional 566,826 shares during the last quarter. Hedge funds and other 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.