Autodesk (NASDAQ:ADSK) Rating Lowered to “Buy” at Wall Street Zen

Autodesk (NASDAQ:ADSK) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

Several other research firms have also issued reports on ADSK. Robert W. Baird raised their price target on shares of Autodesk from $345.00 to $363.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. DA Davidson restated a “buy” rating and set a $375.00 price objective on shares of Autodesk in a research note on Friday, August 29th. Bank of America lifted their target price on Autodesk from $330.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Loop Capital assumed coverage on Autodesk in a research note on Monday, July 21st. They set a “hold” rating and a $320.00 target price on the stock. Finally, Piper Sandler lifted their target price on Autodesk from $361.00 to $373.00 and gave the stock an “overweight” rating in a research note on Friday, August 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $356.83.

Autodesk Stock Down 0.3%

Autodesk stock opened at $322.03 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.76 and a current ratio of 0.76. Autodesk has a 52-week low of $232.67 and a 52-week high of $329.09. The firm has a 50 day moving average price of $306.00 and a two-hundred day moving average price of $291.52. The firm has a market cap of $68.59 billion, a price-to-earnings ratio of 66.67, a PEG ratio of 2.86 and a beta of 1.49.

Insider Buying and Selling

In other Autodesk news, EVP Steven M. Blum sold 22,420 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $323.75, for a total value of $7,258,475.00. Following the completion of the sale, the executive vice president owned 13,099 shares in the company, valued at approximately $4,240,801.25. The trade was a 63.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ruth Ann Keene sold 2,761 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $315.10, for a total value of $869,991.10. Following the transaction, the executive vice president owned 80,255 shares of the company’s stock, valued at approximately $25,288,350.50. This represents a 3.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,720 shares of company stock worth $12,159,241. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Institutional investors have recently added to or reduced their stakes in the company. SouthState Corp raised its holdings in Autodesk by 500.0% in the first quarter. SouthState Corp now owns 96 shares of the software company’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Costello Asset Management INC bought a new position in Autodesk in the first quarter worth $26,000. Close Asset Management Ltd bought a new position in Autodesk in the first quarter worth $27,000. Cheviot Value Management LLC bought a new position in shares of Autodesk during the first quarter valued at $27,000. Finally, Flaharty Asset Management LLC bought a new position in shares of Autodesk during the first quarter valued at $27,000. Institutional investors own 90.24% of the company’s stock.

About Autodesk

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.