Sanford C. Bernstein Reiterates “Outperform” Rating for Autodesk, Inc. (ADSK)
Autodesk, Inc. (NASDAQ:ADSK)‘s stock had its “outperform” rating reaffirmed by research analysts at Sanford C. Bernstein in a note issued to investors on Friday. They currently have a $138.00 target price on the software company’s stock, up from their prior target price of $137.00. Sanford C. Bernstein’s target price points to a potential upside of 27.77% from the stock’s previous close.
Several other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday. OTR Global downgraded shares of Autodesk to a “positive” rating in a research note on Wednesday. Evercore ISI set a $115.00 target price on shares of Autodesk and gave the company a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG assumed coverage on shares of Autodesk in a research note on Wednesday, July 19th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Autodesk from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $104.55.
Autodesk (NASDAQ:ADSK) traded up 2.89% during midday trading on Friday, hitting $108.01. The stock had a trading volume of 1,461,174 shares. The firm has a 50 day moving average price of $107.17 and a 200 day moving average price of $95.79. The stock’s market cap is $23.80 billion. Autodesk has a one year low of $60.95 and a one year high of $115.25.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.08. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The company had revenue of $485.70 million for the quarter, compared to the consensus estimate of $470.27 million. During the same period in the previous year, the business earned ($0.10) EPS. The company’s revenue was down 5.1% on a year-over-year basis. Equities analysts expect that Autodesk will post ($0.57) EPS for the current year.
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In other Autodesk news, Director Carl Bass sold 26,753 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $100.88, for a total transaction of $2,698,842.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Steven M. Blum sold 6,638 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $112.71, for a total transaction of $748,168.98. The disclosure for this sale can be found here. Insiders have sold 170,570 shares of company stock valued at $17,865,037 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its stake in Autodesk by 4.2% in the second quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock worth $121,000 after buying an additional 44 shares during the period. Harfst & Associates Inc. purchased a new stake in Autodesk during the second quarter worth about $150,000. IFP Advisors Inc boosted its stake in Autodesk by 9.3% in the second quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock worth $171,000 after buying an additional 145 shares during the period. Kanawha Capital Management LLC purchased a new stake in Autodesk during the second quarter worth about $202,000. Finally, First Personal Financial Services boosted its stake in Autodesk by 896.0% in the second quarter. First Personal Financial Services now owns 2,002 shares of the software company’s stock worth $202,000 after buying an additional 1,801 shares during the period. Institutional investors own 97.90% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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