Autodesk (NASDAQ:ADSK) Price Target Cut to $275.00 by Analysts at Barclays

Autodesk (NASDAQ:ADSK) had its target price decreased by Barclays from $310.00 to $275.00 in a report published on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the software company’s stock.

Several other equities analysts have also recently issued reports on ADSK. Piper Sandler lowered their target price on shares of Autodesk from $260.00 to $239.00 and set a neutral rating on the stock in a research note on Monday, June 3rd. Oppenheimer cut their target price on shares of Autodesk from $315.00 to $275.00 and set an outperform rating for the company in a research report on Thursday, May 23rd. Berenberg Bank lowered shares of Autodesk from a buy rating to a hold rating and set a $295.00 target price for the company. in a research note on Wednesday, May 1st. Citigroup raised their price target on Autodesk from $276.00 to $307.00 and gave the stock a buy rating in a research note on Monday, February 26th. Finally, Bank of America reduced their price objective on Autodesk from $300.00 to $260.00 and set a neutral rating for the company in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $262.42.

Autodesk Trading Up 5.4 %

NASDAQ:ADSK opened at $223.02 on Wednesday. The stock 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 quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average price is $219.54 and its 200-day moving average price is $237.34. Autodesk has a 52 week low of $192.01 and a 52 week high of $279.53.

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

Insider Buying and Selling

In related news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Deborah Clifford sold 5,553 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.01, for a total value of $1,443,835.53. Following the sale, the chief financial officer now directly owns 32,259 shares of the company’s stock, valued at $8,387,662.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the transaction, the chief executive officer now directly owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,988 shares of company stock worth $7,534,941. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Autodesk

Hedge funds have recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new stake in Autodesk in the fourth quarter worth $25,000. Concord Wealth Partners bought a new position in shares of Autodesk in the 1st quarter valued at about $25,000. New Covenant Trust Company N.A. purchased a new position in Autodesk in the first quarter worth about $25,000. LRI Investments LLC bought a new stake in Autodesk during the first quarter worth approximately $26,000. Finally, Bfsg LLC purchased a new stake in Autodesk during the fourth quarter valued at approximately $27,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.