Autodesk (NASDAQ:ADSK) Trading Down 3.7%

Autodesk, Inc. (NASDAQ:ADSK)’s share price fell 3.7% during mid-day trading on Thursday . The stock traded as low as $206.83 and last traded at $206.97. 355,927 shares traded hands during trading, a decline of 74% from the average session volume of 1,362,015 shares. The stock had previously closed at $214.92.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADSK. Piper Sandler Companies raised their price objective on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. StockNews.com raised shares of Autodesk from a “buy” rating to a “strong-buy” rating in a research report on Thursday. KeyCorp raised their target price on shares of Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. 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 research note on Friday, March 1st. Finally, Piper Sandler raised their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $272.44.

Autodesk Price Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. The stock has a market cap of $46.31 billion, a price-to-earnings ratio of 51.43, a PEG ratio of 2.95 and a beta of 1.43. The company’s 50 day moving average is $251.86 and its 200 day moving average is $234.97.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.14. The company had revenue of $1.47 billion during 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 firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share. Research analysts forecast that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 2,500 shares of Autodesk stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $250.00, for a total transaction of $625,000.00. Following the completion of the transaction, the director now owns 39,316 shares in the company, valued at $9,829,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction dated 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 in the company, valued at $898,621.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary T. Mcdowell sold 2,500 shares of Autodesk stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $250.00, for a total transaction of $625,000.00. Following the sale, the director now owns 39,316 shares of the company’s stock, valued at $9,829,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,666 shares of company stock worth $10,090,055. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Hedge funds and other institutional investors have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Autodesk during the fourth quarter worth about $25,000. Garner Asset Management Corp purchased a new stake in shares of Autodesk during the fourth quarter worth about $26,000. Bfsg LLC purchased a new stake in shares of Autodesk during the fourth quarter worth about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Autodesk during the fourth quarter worth about $28,000. Finally, Harbour Investments Inc. grew its holdings in shares of Autodesk by 76.9% during the fourth quarter. Harbour Investments Inc. now owns 115 shares of the software company’s stock worth $28,000 after buying an additional 50 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other 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.