Autodesk (ADSK) – Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Autodesk (NASDAQ: ADSK) in the last few weeks:

• 6/18/2024 – Autodesk had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $275.00 price target on the stock.
• 6/18/2024 – Autodesk had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $260.00 price target on the stock.
• 6/12/2024 – Autodesk had its price target lowered by analysts at Barclays PLC from $310.00 to $275.00. They now have an “overweight” rating on the stock.
• 6/12/2024 – Autodesk had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $260.00 price target on the stock.
• 6/12/2024 – Autodesk had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $239.00 price target on the stock.
• 6/12/2024 – Autodesk had its price target lowered by analysts at BMO Capital Markets from $293.00 to $254.00. They now have a “market perform” rating on the stock.
• 6/12/2024 – Autodesk had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $255.00 price target on the stock.
• 6/12/2024 – Autodesk had its price target raised by analysts at Citigroup Inc. from $286.00 to $295.00. They now have a “buy” rating on the stock.
• 6/12/2024 – Autodesk had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $290.00 price target on the stock.
• 6/4/2024 – Autodesk had its price target lowered by analysts at Mizuho from $270.00 to $230.00. They now have a “neutral” rating on the stock.
• 6/3/2024 – Autodesk had its price target lowered by analysts at Piper Sandler from $260.00 to $239.00. They now have a “neutral” rating on the stock.
• 6/3/2024 – Autodesk had its price target lowered by analysts at Bank of America Co. from $300.00 to $260.00. They now have a “neutral” rating on the stock.
• 5/29/2024 – Autodesk had its price target lowered by analysts at Robert W. Baird from $296.00 to $289.00. They now have an “outperform” rating on the stock.
• 5/23/2024 – Autodesk had its price target lowered by analysts at Oppenheimer Holdings Inc. from $315.00 to $275.00. They now have an “outperform” rating on the stock.
• 5/23/2024 – Autodesk had its price target lowered by analysts at Stifel Nicolaus from $316.00 to $290.00. They now have a “buy” rating on the stock.
• 5/20/2024 – Autodesk had its price target lowered by analysts at KeyCorp from $320.00 to $305.00. They now have an “overweight” rating on the stock.

Autodesk Trading Up 1.5 %

NASDAQ ADSK opened at $247.45 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $53.33 billion, a price-to-earnings ratio of 53.56, a PEG ratio of 3.31 and a beta of 1.43. The firm has a 50 day simple moving average of $221.13 and a 200-day simple moving average of $239.12. Autodesk, Inc. has a one year low of $192.01 and a one year high of $279.53.

Autodesk (NASDAQ:ADSK) last posted 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 business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.39 billion. Autodesk had a net margin of 17.66% and a return on equity of 65.46%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Equities research analysts anticipate that Autodesk, Inc. will post 5.55 EPS for the current fiscal year.

Insider Activity

In related news, COO Steven M. Blum sold 17,413 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $226.40, for a total value of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at $12,256,390.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $235.00, for a total transaction of $129,250.00. Following the completion of the transaction, the director now directly owns 31,566 shares of the company’s stock, valued at approximately $7,418,010. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.40, for a total value of $3,942,303.20. Following the sale, the chief operating officer now owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,138 shares of company stock worth $4,339,111. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADSK. Manchester Capital Management LLC raised its stake in Autodesk by 12.2% during the 4th quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock worth $378,000 after acquiring an additional 169 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Autodesk by 153.0% in the 4th quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock valued at $93,589,000 after purchasing an additional 232,441 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Autodesk by 58.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock worth $4,297,000 after buying an additional 6,481 shares during the last quarter. abrdn plc increased its position in Autodesk by 26.2% during the fourth quarter. abrdn plc now owns 460,759 shares of the software company’s stock worth $112,186,000 after buying an additional 95,723 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Autodesk by 12.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 73,893 shares of the software company’s stock valued at $17,991,000 after buying an additional 8,456 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

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.