Autodesk (NASDAQ:ADSK) Rating Lowered to Hold at Berenberg Bank

Berenberg Bank downgraded shares of Autodesk (NASDAQ:ADSK) from a buy rating to a hold rating in a research report sent to investors on Wednesday, MarketBeat.com reports. Berenberg Bank currently has $295.00 price objective on the software company’s stock.

Other research analysts have also recently issued reports about the stock. Mizuho increased their price target on shares of Autodesk from $220.00 to $270.00 and gave the company a neutral rating in a report on Friday, March 1st. Stifel Nicolaus reaffirmed a buy rating and set a $316.00 target price on shares of Autodesk in a report on Friday, April 12th. Citigroup raised their target price on shares of Autodesk from $276.00 to $307.00 and gave the stock a buy rating in a report on Monday, February 26th. Rosenblatt Securities raised their target price on shares of Autodesk from $265.00 to $290.00 and gave the stock a buy rating in a report on Friday, March 1st. Finally, Piper Sandler Companies raised their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a neutral rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $274.67.

Autodesk Stock Down 1.0 %

Autodesk stock opened at $210.71 on Wednesday. The stock has a market cap of $45.40 billion, a P/E ratio of 50.05, a P/E/G ratio of 2.98 and a beta of 1.43. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. Autodesk has a twelve month low of $189.54 and a twelve month high of $279.53. The company’s 50-day moving average price is $245.02 and its two-hundred day moving average price is $235.51.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.14. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. As a group, analysts expect that Autodesk will post 5.38 EPS for the current year.

Insider Activity

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the sale, the director now owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $264.74, for a total value of $145,607.00. Following the completion of the sale, the director now owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the sale, the chief accounting officer now directly owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,166 shares of company stock valued at $9,465,055. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its position in Autodesk by 86.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock valued at $1,959,000 after buying an additional 4,381 shares during the period. CWA Asset Management Group LLC purchased a new stake in Autodesk during the 3rd quarter valued at $330,000. abrdn plc boosted its position in Autodesk by 26.2% during the 4th quarter. abrdn plc now owns 460,759 shares of the software company’s stock valued at $112,186,000 after buying an additional 95,723 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Autodesk during the 4th quarter valued at $7,280,000. Finally, International Assets Investment Management LLC boosted its position in Autodesk by 3,539.1% during the 4th quarter. International Assets Investment Management LLC now owns 227,410 shares of the software company’s stock valued at $55,370,000 after buying an additional 221,161 shares during the period. 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.