Autodesk (NASDAQ:ADSK) Lowered to Hold at Berenberg Bank

Autodesk (NASDAQ:ADSK) was downgraded by analysts at Berenberg Bank from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $295.00 price objective on the software company’s stock. Berenberg Bank’s price objective suggests a potential upside of 38.60% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. KeyCorp increased their target price on shares of Autodesk from $275.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. The Goldman Sachs Group boosted their target price on Autodesk from $180.00 to $230.00 and gave the company a “sell” rating in a report on Friday, March 1st. Piper Sandler upped their price target on Autodesk from $234.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Mizuho lifted their price objective on shares of Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets upped their price objective on shares of Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $274.67.

Autodesk Stock Down 1.8 %

ADSK opened at $212.85 on Wednesday. The stock has a market capitalization of $45.53 billion, a P/E ratio of 50.56, a price-to-earnings-growth ratio of 3.00 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. Autodesk has a one year low of $189.54 and a one year high of $279.53. The business’s 50-day simple moving average is $245.86 and its 200-day simple moving average is $235.68.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.14. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share. Analysts anticipate that Autodesk will post 5.38 EPS for the current year.

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 1,757 shares of the business’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 sale, the chief accounting officer now directly owns 3,450 shares in the company, valued at $898,621.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $264.74, for a total value of $145,607.00. Following the transaction, the director now directly owns 38,766 shares in the company, valued at approximately $10,262,910.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction dated 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 directly owns 3,450 shares in the company, valued at $898,621.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,166 shares of company stock worth $9,465,055 in the last three months. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Autodesk in the fourth quarter worth $25,000. Concord Wealth Partners purchased a new stake in Autodesk during the 1st quarter worth $25,000. Bfsg LLC purchased a new stake in Autodesk during the 4th quarter worth $27,000. Rakuten Securities Inc. acquired a new stake in Autodesk in the 4th quarter valued at $28,000. Finally, Private Wealth Management Group LLC purchased a new position in Autodesk in the fourth quarter valued at about $31,000. 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.