Autodesk Inc. (ADSK) PT Raised to $70.00
Autodesk Inc. (NASDAQ:ADSK) had its price target upped by equities researchers at Wedbush to $70.00 in a note issued to investors on Tuesday. The firm presently has a “neutral” rating on the software company’s stock. Wedbush’s price objective would indicate a potential downside of 6.85% from the company’s current price.
ADSK has been the topic of several other reports. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $64.00 price target (up from $60.00) on shares of Autodesk in a report on Sunday, August 21st. Rosenblatt Securities lowered shares of Autodesk from a “neutral” rating to a “sell” rating in a report on Tuesday, August 30th. Zacks Investment Research raised shares of Autodesk from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Tuesday, October 4th. Citigroup Inc. set a $65.00 price target on shares of Autodesk and gave the company a “hold” rating in a report on Sunday, August 28th. Finally, Canaccord Genuity upped their price target on shares of Autodesk from $60.00 to $65.00 and gave the company a “hold” rating in a report on Friday, August 26th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $68.42.
Autodesk (NASDAQ:ADSK) opened at 75.15 on Tuesday. The stock’s 50 day moving average price is $72.18 and its 200-day moving average price is $63.91. The stock’s market cap is $16.68 billion. Autodesk has a 12 month low of $41.60 and a 12 month high of $78.58.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.18. The firm 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 quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share. Equities analysts expect that Autodesk will post ($0.60) EPS for the current year.
In other Autodesk news, SVP Steven M. Blum sold 10,000 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $66.00, for a total transaction of $660,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jan Becker sold 17,363 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $71.48, for a total transaction of $1,241,107.24. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ADSK. FMR LLC raised its stake in 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 during the period. Eminence Capital LP raised 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 during the period. Blue Ridge Capital L.L.C. raised 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 during the period. Loomis Sayles & Co. L P raised 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 during the period. Finally, Principal Financial Group Inc. raised 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 during the period. Institutional investors own 96.82% of the company’s stock.
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Autodesk Company Profile
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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