Autodesk Inc. (NASDAQ:ADSK)‘s stock had its “sell” rating reaffirmed by analysts at Bank of America Corp. in a research report issued on Thursday.

A number of other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 31st. Evercore ISI initiated coverage on shares of Autodesk in a research note on Wednesday, September 14th. They set a “buy” rating and a $80.00 target price on the stock. Wedbush initiated coverage on shares of Autodesk in a research note on Friday, September 9th. They set a “neutral” rating and a $60.00 target price on the stock. Rosenblatt Securities lowered shares of Autodesk from a “neutral” rating to a “sell” rating in a research note on Tuesday, August 30th. Finally, Citigroup Inc. set a $65.00 target price on shares of Autodesk and gave the stock a “hold” rating in a research note on Sunday, August 28th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $67.53.

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK) opened at 76.90 on Thursday. The firm’s 50-day moving average is $71.88 and its 200-day moving average is $63.53. The stock’s market capitalization is $17.06 billion. Autodesk has a 52-week low of $41.60 and a 52-week high of $78.58.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.18. The company had revenue of $550.70 million for the quarter, compared to analyst estimates of $511.49 million. Autodesk had a negative net margin of 15.05% and a negative return on equity of 5.95%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. Analysts predict that Autodesk will post ($0.60) earnings per share for the current year.

In other news, SVP Steven M. Blum sold 10,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $66.00, for a total value of $660,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Betsy Rafael sold 4,416 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $67.80, for a total value of $299,404.80. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Autodesk by 23.8% in the second quarter. FMR LLC now owns 20,026,572 shares of the software company’s stock worth $1,084,239,000 after buying an additional 3,844,505 shares in the last quarter. Eminence Capital LP boosted its stake in Autodesk by 1.1% in the second quarter. Eminence Capital LP now owns 13,194,968 shares of the software company’s stock worth $714,376,000 after buying an additional 139,771 shares in the last quarter. Blue Ridge Capital L.L.C. boosted its stake in Autodesk by 0.4% in the second quarter. Blue Ridge Capital L.L.C. now owns 10,013,900 shares of the software company’s stock worth $542,153,000 after buying an additional 43,100 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Autodesk by 6.7% in the second quarter. Loomis Sayles & Co. L P now owns 8,603,758 shares of the software company’s stock worth $465,808,000 after buying an additional 541,494 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Autodesk by 2.1% in the third quarter. Principal Financial Group Inc. now owns 4,516,179 shares of the software company’s stock worth $326,656,000 after buying an additional 94,827 shares in the last quarter. Institutional investors and hedge funds own 96.82% of the company’s stock.

About Autodesk

Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.

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