Autodesk, Inc. (ADSK) Given “Buy” Rating at Royal Bank Of Canada
ADSK has been the subject of several other research reports. BidaskClub upgraded Autodesk from a buy rating to a strong-buy rating in a research note on Thursday, August 24th. Zacks Investment Research downgraded Autodesk from a hold rating to a sell rating in a research note on Tuesday, July 18th. KeyCorp increased their target price on Autodesk from $115.00 to $128.00 and gave the company an overweight rating in a research note on Friday, August 25th. Robert W. Baird set a $125.00 target price on Autodesk and gave the company a buy rating in a research note on Sunday, October 1st. Finally, Morgan Stanley restated an overweight rating and set a $120.00 target price (up previously from $115.00) on shares of Autodesk in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $123.16.
Autodesk (NASDAQ ADSK) traded up $2.98 on Wednesday, hitting $127.00. The stock had a trading volume of 1,530,942 shares, compared to its average volume of 1,999,436. Autodesk has a 52 week low of $68.06 and a 52 week high of $127.00. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 5.02.
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In related news, SVP Steven M. Blum sold 9,128 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $112.26, for a total transaction of $1,024,709.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Fronzo Pascal W. Di sold 580 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $110.91, for a total value of $64,327.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,789 shares of company stock valued at $9,189,363. 6.10% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Autodesk by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,418,023 shares of the software company’s stock valued at $2,058,545,000 after purchasing an additional 466,724 shares in the last quarter. BlackRock Inc. increased its holdings in Autodesk by 4.8% during the 2nd quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock valued at $1,612,787,000 after purchasing an additional 735,647 shares in the last quarter. American Century Companies Inc. increased its holdings in Autodesk by 13.6% during the 3rd quarter. American Century Companies Inc. now owns 3,043,473 shares of the software company’s stock valued at $341,660,000 after purchasing an additional 364,994 shares in the last quarter. Franklin Resources Inc. increased its holdings in Autodesk by 18.5% during the 2nd quarter. Franklin Resources Inc. now owns 2,792,955 shares of the software company’s stock valued at $281,589,000 after purchasing an additional 436,261 shares in the last quarter. Finally, Fred Alger Management Inc. increased its holdings in Autodesk by 52.3% during the 2nd quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock valued at $243,405,000 after purchasing an additional 829,021 shares in the last quarter. 94.63% of the stock is owned by hedge funds and other institutional investors.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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