Autodesk (NASDAQ:ADSK) Price Target Lowered to $220.00 at Stifel Nicolaus

Autodesk (NASDAQ:ADSKGet Rating) had its price objective cut by Stifel Nicolaus from $270.00 to $220.00 in a report issued on Wednesday morning, The Fly reports.

ADSK has been the topic of several other reports. Robert W. Baird decreased their price objective on shares of Autodesk from $255.00 to $244.00 and set an outperform rating on the stock in a research report on Wednesday. Barclays decreased their price target on Autodesk from $275.00 to $225.00 and set an overweight rating on the stock in a report on Wednesday. KeyCorp dropped their price objective on Autodesk from $264.00 to $237.00 and set an overweight rating for the company in a research note on Wednesday. Rosenblatt Securities cut their target price on Autodesk from $285.00 to $270.00 and set a buy rating for the company in a research report on Thursday, August 25th. Finally, Credit Suisse Group lowered their price target on Autodesk from $355.00 to $325.00 and set an outperform rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $241.57.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $197.07 on Wednesday. The firm’s 50 day moving average price is $201.79 and its 200-day moving average price is $198.87. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.08. The stock has a market capitalization of $42.54 billion, a PE ratio of 77.89, a price-to-earnings-growth ratio of 1.83 and a beta of 1.49. Autodesk has a twelve month low of $163.20 and a twelve month high of $285.38.

Autodesk (NASDAQ:ADSKGet Rating) last released its quarterly earnings results on Tuesday, November 22nd. The software company reported $1.70 earnings per share for the quarter, hitting the consensus estimate of $1.70. Autodesk had a net margin of 11.76% and a return on equity of 88.57%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the firm earned $0.68 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. Equities research analysts expect that Autodesk will post 4.13 EPS for the current year.

Insider Activity

In related news, CEO Andrew Anagnost sold 34,366 shares of Autodesk stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $206.87, for a total value of $7,109,294.42. Following the completion of the transaction, the chief executive officer now owns 76,968 shares in the company, valued at $15,922,370.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Institutional investors and hedge funds have recently modified their holdings of the stock. Toroso Investments LLC raised its holdings in Autodesk by 4.4% during the 3rd quarter. Toroso Investments LLC now owns 9,188 shares of the software company’s stock valued at $1,716,000 after buying an additional 388 shares during the period. CVA Family Office LLC raised its stake in shares of Autodesk by 111.8% in the third quarter. CVA Family Office LLC now owns 341 shares of the software company’s stock valued at $64,000 after acquiring an additional 180 shares during the period. IHT Wealth Management LLC lifted its holdings in shares of Autodesk by 41.5% in the 3rd quarter. IHT Wealth Management LLC now owns 2,788 shares of the software company’s stock worth $521,000 after acquiring an additional 818 shares during the last quarter. Dash Acquisitions Inc. boosted its stake in shares of Autodesk by 6.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 1,883 shares of the software company’s stock worth $352,000 after purchasing an additional 116 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Autodesk during the 3rd quarter valued at about $3,789,000. Hedge funds and other institutional investors own 86.44% of the company’s stock.

Autodesk Company Profile

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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