Autodesk (NASDAQ:ADSK) Stock Price Down 7.4% – Here’s What Happened

Autodesk, Inc. (NASDAQ:ADSK)’s stock price traded down 7.4% during mid-day trading on Friday . The stock traded as low as $219.49 and last traded at $219.94. Approximately 651,576 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 2,299,992 shares. The stock had previously closed at $237.52.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ADSK shares. Rosenblatt Securities reissued a “buy” rating and set a $330.00 price objective on shares of Autodesk in a research report on Monday. Bank of America reaffirmed a “buy” rating and set a $300.00 price objective on shares of Autodesk in a research report on Tuesday, May 12th. Royal Bank Of Canada dropped their target price on Autodesk from $335.00 to $305.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Jefferies Financial Group raised Autodesk to a “strong-buy” rating in a research note on Tuesday, May 26th. Finally, Rothschild & Co Redburn reduced their price target on Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $321.19.

Autodesk Stock Down 8.3%

The company’s 50 day simple moving average is $230.47 and its 200-day simple moving average is $232.60. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The firm has a market cap of $45.51 billion, a P/E ratio of 28.11, a PEG ratio of 1.59 and a beta of 1.31.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.18. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.62 earnings per share. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Research analysts forecast that Autodesk, Inc. will post 9.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John T. Cahill purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the purchase, the director directly owned 4,000 shares in the company, valued at approximately $756,800. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Janesh Moorjani acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $197.67 per share, with a total value of $494,175.00. Following the acquisition, the executive vice president directly owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new position in shares of Autodesk in the 3rd quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new stake in Autodesk during the fourth quarter valued at approximately $25,000. Prosperity Bancshares Inc purchased a new stake in Autodesk during the fourth quarter valued at approximately $27,000. Ascentis Independent Advisors bought a new position in Autodesk in the first quarter worth approximately $28,000. Finally, Johnson Financial Group Inc. bought a new position in Autodesk in the second quarter worth approximately $30,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Company Profile

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.