Autodesk Inc. (ADSK) Stock Rating Reaffirmed by Wedbush
Autodesk Inc. (NASDAQ:ADSK)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a report released on Wednesday. They presently have a $70.00 price target on the software company’s stock, down from their prior price target of $76.00. Wedbush’s price target suggests a potential downside of 6.96% from the stock’s current price.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research upgraded Autodesk from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Tuesday, October 4th. Mitsubishi UFJ Financial Group lowered Autodesk from an “equal weight” rating to an “underweight” rating and set a $50.00 price target on the stock. in a research report on Monday, August 29th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $64.00 price target (up previously from $60.00) on shares of Autodesk in a research report on Sunday, August 21st. Evercore ISI began coverage on Autodesk in a research report on Wednesday, September 14th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Rosenblatt Securities lowered Autodesk from a “neutral” rating to a “sell” rating in a research report on Tuesday, August 30th. 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 currently has a consensus rating of “Hold” and a consensus price target of $68.42.
Shares of Autodesk (NASDAQ:ADSK) opened at 75.26 on Wednesday. The stock’s 50 day moving average price is $72.33 and its 200-day moving average price is $64.22. Autodesk has a 52 week low of $41.60 and a 52 week high of $78.58. The stock’s market cap is $16.70 billion.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 29th. The software company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. Autodesk had a negative return on equity of 5.95% and a negative net margin of 15.05%. The company earned $489.60 million during the quarter. During the same quarter last year, the business earned $0.14 earnings per share. The business’s revenue was down 18.4% compared to the same quarter last year. Equities analysts anticipate that Autodesk will post ($0.60) earnings per share for the current fiscal year.
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In other Autodesk news, CFO Richard Scott Herren sold 1,500 shares of the business’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $68.91, for a total transaction of $103,365.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jan Becker sold 17,363 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $71.48, for a total value of $1,241,107.24. The disclosure for this sale can be found here. 6.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Cullinan Associates Inc. increased its stake in Autodesk by 0.3% in the third quarter. Cullinan Associates Inc. now owns 69,300 shares of the software company’s stock worth $5,012,000 after buying an additional 200 shares during the last quarter. Grandfield & Dodd LLC increased its stake in Autodesk by 1.2% in the second quarter. Grandfield & Dodd LLC now owns 250,823 shares of the software company’s stock worth $13,580,000 after buying an additional 2,859 shares during the last quarter. Ngam Advisors L.P. increased its stake in Autodesk by 5.8% in the second quarter. Ngam Advisors L.P. now owns 636,545 shares of the software company’s stock worth $34,462,000 after buying an additional 34,678 shares during the last quarter. BB&T Corp increased its stake in Autodesk by 2.5% in the second quarter. BB&T Corp now owns 113,950 shares of the software company’s stock worth $6,170,000 after buying an additional 2,764 shares during the last quarter. Finally, Seven Bridges Advisors LLC increased its stake in Autodesk by 13.2% in the second quarter. Seven Bridges Advisors LLC now owns 9,419 shares of the software company’s stock worth $510,000 after buying an additional 1,099 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.
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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