Stifel Nicolaus Cuts Autodesk (NASDAQ:ADSK) Price Target to $290.00

Autodesk (NASDAQ:ADSK) had its price objective decreased by Stifel Nicolaus from $316.00 to $290.00 in a research report sent to investors on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the software company’s stock.

Other equities analysts have also issued reports about the stock. Barclays lifted their price objective on shares of Autodesk from $300.00 to $310.00 and gave the company an overweight rating in a report on Friday, March 1st. Citigroup lifted their price objective on shares of Autodesk from $276.00 to $307.00 and gave the company a buy rating in a report on Monday, February 26th. Piper Sandler Companies lifted their price objective on shares of Autodesk from $234.00 to $260.00 and gave the company a neutral rating in a report on Friday, March 1st. StockNews.com downgraded shares of Autodesk from a strong-buy rating to a buy rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada restated an outperform rating and issued a $320.00 target price on shares of Autodesk in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Autodesk has an average rating of Hold and an average price target of $270.17.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $214.89 on Thursday. The firm has a market cap of $46.30 billion, a PE ratio of 51.04, a price-to-earnings-growth ratio of 2.96 and a beta of 1.45. The firm’s 50 day simple moving average is $231.60 and its 200-day simple moving average is $237.24. Autodesk has a one year low of $192.01 and a one year high of $279.53. 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 (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.14. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. Autodesk’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. As a group, equities analysts predict that Autodesk will post 5.38 EPS for the current year.

Insider Buying and Selling

In related news, EVP Rebecca Pearce sold 1,628 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the transaction, the executive vice president now owns 13,620 shares of the company’s stock, valued at $3,425,974.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the completion of the transaction, the chief executive officer now owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the transaction, the executive vice president now directly owns 13,620 shares of the company’s stock, valued at approximately $3,425,974.80. The disclosure for this sale can be found here. Insiders sold a total of 35,616 shares of company stock valued at $9,319,448 over the last 90 days. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC increased its stake in shares of Autodesk by 21.5% during the fourth quarter. VisionPoint Advisory Group LLC now owns 237 shares of the software company’s stock worth $58,000 after purchasing an additional 42 shares in the last quarter. Bouvel Investment Partners LLC increased its stake in shares of Autodesk by 0.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock worth $2,864,000 after purchasing an additional 44 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Autodesk by 3.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock worth $306,000 after purchasing an additional 45 shares in the last quarter. Goodman Advisory Group LLC increased its stake in shares of Autodesk by 0.4% during the fourth quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock worth $2,770,000 after purchasing an additional 49 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC increased its stake in shares of Autodesk by 3.7% during the fourth quarter. Epic Trust Investment Advisors LLC now owns 1,360 shares of the software company’s stock worth $331,000 after purchasing an additional 49 shares in the last quarter. 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.