Autodesk (NASDAQ:ADSK) Research Coverage Started at Scotiabank

Scotiabank assumed coverage on shares of Autodesk (NASDAQ:ADSK) in a research report sent to investors on Monday, MarketBeat reports. The brokerage issued a sector outperform rating and a $360.00 target price on the software company’s stock.

ADSK has been the subject of several other reports. DA Davidson began coverage on Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. BMO Capital Markets boosted their target price on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $225.00 to $295.00 in a report on Tuesday, September 3rd. HSBC raised Autodesk from a “hold” rating to a “buy” rating and upped their price target for the company from $242.00 to $299.00 in a report on Tuesday, September 3rd. Finally, Berenberg Bank upped 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. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and a consensus price target of $302.38.

Autodesk Trading Up 0.9 %

Shares of Autodesk stock opened at $307.84 on Monday. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $315.73. The firm has a market cap of $66.19 billion, a PE ratio of 62.95, a P/E/G ratio of 3.82 and a beta of 1.47. The business’s fifty day moving average is $284.18 and its two-hundred day moving average is $253.46. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. Analysts anticipate that Autodesk will post 5.73 earnings per share for the current year.

Insider Buying and Selling at Autodesk

In other news, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the transaction, the chief operating officer now owns 17,099 shares of the company’s stock, valued at approximately $4,616,730. This represents a 50.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now directly owns 30,249 shares of the company’s stock, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,280 shares of company stock worth $5,232,213 over the last ninety days. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Autodesk by 263.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after purchasing an additional 4,563,668 shares during the last quarter. Starboard Value LP acquired a new stake in Autodesk in the third quarter worth $510,189,000. Ninety One UK Ltd raised its holdings 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 acquiring an additional 1,108,973 shares during the period. Van ECK Associates Corp raised its holdings in shares of Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after acquiring an additional 825,165 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Autodesk by 366.5% during the second quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after acquiring an additional 662,339 shares during the period. 90.24% of the stock is owned by institutional investors.

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.