The Goldman Sachs Group Upgrades Autodesk (NASDAQ:ADSK) to “Neutral”

Autodesk (NASDAQ:ADSK) was upgraded by analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage presently has a $295.00 target price on the software company’s stock, up from their prior target price of $225.00. The Goldman Sachs Group’s price target would indicate a potential upside of 15.33% from the company’s previous close.

Several other brokerages have also commented on ADSK. KeyCorp restated an “overweight” rating and issued a $305.00 price objective on shares of Autodesk in a report on Monday, August 26th. Mizuho raised their price objective on shares of Autodesk from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. HSBC raised Autodesk from a “hold” rating to a “buy” rating and lifted their price objective for the company from $242.00 to $299.00 in a research report on Tuesday. Citigroup increased their target price on Autodesk from $295.00 to $316.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada lifted their price target on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $292.17.

Autodesk Stock Down 0.8 %

NASDAQ ADSK opened at $255.79 on Tuesday. The business’s 50-day moving average is $246.91 and its 200 day moving average is $239.18. The stock has a market capitalization of $55.13 billion, a PE ratio of 55.37, a PEG ratio of 3.45 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.69. Autodesk has a 1 year low of $192.01 and a 1 year high of $279.53.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $1.12 EPS. Sell-side analysts forecast that Autodesk will post 5.55 earnings per share for the current year.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $235.00, for a total value 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 $7,418,010. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the sale, the director now directly owns 32,116 shares of the company’s stock, valued at $7,264,960.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $235.00, for a total value of $129,250.00. Following the completion of the sale, the director now owns 31,566 shares of the company’s stock, valued at $7,418,010. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,275 shares of company stock valued at $14,220,661. 0.14% of the stock is owned by insiders.

Institutional Trading of Autodesk

A number of institutional investors have recently made changes to their positions in ADSK. New Covenant Trust Company N.A. bought a new position in Autodesk during the first quarter valued at approximately $25,000. Concord Wealth Partners bought a new position in shares of Autodesk during the 1st quarter valued at $25,000. LRI Investments LLC purchased a new position in shares of Autodesk in the 1st quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Autodesk in the fourth quarter worth $25,000. Finally, Olistico Wealth LLC purchased a new stake in Autodesk during the second quarter valued at $26,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

About Autodesk

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.