Autodesk’s (ADSK) “Equal Weight” Rating Reaffirmed at Morgan Stanley

Autodesk (NASDAQ:ADSK)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a report released on Wednesday, Benzinga reports. They currently have a $255.00 price target on the software company’s stock. Morgan Stanley’s price objective points to a potential upside of 14.30% from the company’s current price.

Several other research analysts also recently commented on the company. Rosenblatt Securities reissued a “buy” rating and issued a $290.00 price objective on shares of Autodesk in a research note on Wednesday. Bank of America reduced their target price on shares of Autodesk from $300.00 to $260.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Autodesk in a research note on Wednesday. The Goldman Sachs Group boosted their target price on Autodesk from $180.00 to $230.00 and gave the stock a “sell” rating in a report on Friday, March 1st. Finally, Berenberg Bank cut 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $262.42.

Autodesk Stock Up 0.0 %

Shares of NASDAQ ADSK opened at $223.10 on Wednesday. The firm has a market cap of $48.07 billion, a price-to-earnings ratio of 52.99, a price-to-earnings-growth ratio of 2.96 and a beta of 1.43. The company’s 50-day simple moving average is $219.11 and its 200-day simple moving average is $237.24. 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 52-week low of $192.01 and a 52-week high of $279.53.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the firm posted $1.55 EPS. Autodesk’s revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that Autodesk will post 5.41 EPS for the current fiscal year.

Insider Activity at Autodesk

In other news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the transaction, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at $898,621.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Anagnost sold 21,053 shares of the company’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 transaction of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,438 shares of company stock worth $7,393,778. Insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

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

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.