Autodesk (NASDAQ:ADSK) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Autodesk (NASDAQ:ADSK) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $290.00 price objective on the software company’s stock.

ADSK has been the subject of a number of other research reports. Royal Bank of Canada restated an outperform rating and issued a $320.00 price target on shares of Autodesk in a research note on Monday, April 1st. Oppenheimer reduced their price target on shares of Autodesk from $315.00 to $275.00 and set an outperform rating on the stock in a research report on Thursday, May 23rd. BMO Capital Markets boosted their price objective on Autodesk from $232.00 to $293.00 and gave the company a market perform rating in a report on Friday, March 1st. Mizuho reduced their target price on Autodesk from $270.00 to $230.00 and set a neutral rating on the stock in a report on Tuesday, June 4th. Finally, Berenberg Bank downgraded Autodesk from a buy rating to a hold rating and set a $295.00 price target for the company. in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $262.42.

Autodesk Price Performance

ADSK opened at $223.02 on Wednesday. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53. The firm has a market cap of $48.06 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 2.96 and a beta of 1.43. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The company has a fifty day simple moving average of $219.54 and a 200 day simple moving average of $237.34.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.10. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.39 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. Equities research analysts expect that Autodesk will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at approximately $27,354,327.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the sale, the chief executive officer now owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the transaction, 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. Insiders sold 28,988 shares of company stock valued at $7,534,941 over the last 90 days. 0.14% of the stock is currently owned by company insiders.

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADSK. Manchester Capital Management LLC boosted its holdings in shares of Autodesk by 12.2% in the fourth quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock worth $378,000 after buying an additional 169 shares during the period. TD Asset Management Inc grew its position in Autodesk by 153.0% during the 4th quarter. TD Asset Management Inc now owns 384,380 shares of the software company’s stock worth $93,589,000 after purchasing an additional 232,441 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake 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 purchasing an additional 4,381 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Autodesk in the third quarter valued at $330,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Autodesk by 58.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,650 shares of the software company’s stock valued at $4,297,000 after purchasing an additional 6,481 shares in the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Company Profile

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.