Bank of America lowered shares of Autodesk (NASDAQ:ADSK) from a neutral rating to an underperform rating in a research report sent to investors on Wednesday, BenzingaRatingsTable reports.

Several other research analysts also recently weighed in on the company. Citigroup started coverage on Autodesk in a research note on Monday, July 22nd. They set a buy rating and a $210.00 target price on the stock. BidaskClub raised Autodesk from a sell rating to a hold rating in a research report on Wednesday. Evercore ISI set a $190.00 price target on Autodesk and gave the stock a buy rating in a research report on Wednesday, August 21st. Deutsche Bank cut Autodesk from a buy rating to a hold rating and lowered their price target for the stock from $180.00 to $165.00 in a research report on Thursday, August 15th. Finally, Zacks Investment Research cut Autodesk from a hold rating to a strong sell rating and set a $169.00 price target for the company. in a research report on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $169.48.

Shares of ADSK stock opened at $142.82 on Wednesday. Autodesk has a 1-year low of $117.72 and a 1-year high of $178.95. The stock’s fifty day moving average price is $155.65 and its 200 day moving average price is $162.46. The company has a market cap of $32.99 billion, a price-to-earnings ratio of 1,298.36, a price-to-earnings-growth ratio of 2.40 and a beta of 1.79.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, August 27th. The software company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.04). Autodesk had a negative return on equity of 55.37% and a net margin of 1.95%. The business had revenue of $796.80 million for the quarter, compared to analysts’ expectations of $788.00 million. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. Sell-side analysts predict that Autodesk will post 1.65 EPS for the current year.

In other news, CEO Andrew Anagnost sold 2,434 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $169.47, for a total value of $412,489.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Betsy Rafael sold 2,039 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $157.83, for a total value of $321,815.37. The disclosure for this sale can be found here. In the last three months, insiders sold 6,773 shares of company stock valued at $1,109,297. Insiders own 0.12% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Autodesk by 2.2% in the 1st quarter. FMR LLC now owns 9,039,419 shares of the software company’s stock valued at $1,408,523,000 after buying an additional 190,871 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Autodesk by 13.9% in the 2nd quarter. Brown Advisory Inc. now owns 3,152,280 shares of the software company’s stock valued at $513,507,000 after buying an additional 384,266 shares during the period. Invesco Ltd. lifted its holdings in shares of Autodesk by 2.3% in the 2nd quarter. Invesco Ltd. now owns 3,060,683 shares of the software company’s stock valued at $498,585,000 after buying an additional 67,647 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Autodesk by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 2,869,972 shares of the software company’s stock valued at $368,471,000 after buying an additional 214,397 shares during the period. Finally, Egerton Capital UK LLP lifted its holdings in shares of Autodesk by 21.7% in the 2nd quarter. Egerton Capital UK LLP now owns 2,712,880 shares of the software company’s stock valued at $441,928,000 after buying an additional 484,101 shares during the period. 95.02% of the stock is owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

Further Reading: Stock Symbols and CUSIP Explained

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.