Autodesk (NASDAQ:ADSK) Shares Gap Down to $228.24

Shares of Autodesk, Inc. (NASDAQ:ADSK) gapped down prior to trading on Wednesday . The stock had previously closed at $228.24, but opened at $212.77. Autodesk shares last traded at $213.06, with a volume of 921,145 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Mizuho increased their price target on Autodesk from $220.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Oppenheimer increased their price target on Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Piper Sandler increased their price target on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of Autodesk in a research note on Monday, April 1st. Finally, Rosenblatt Securities increased their price target on Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $272.44.

Autodesk Stock Performance

The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.75 and a current ratio of 0.82. The stock has a fifty day simple moving average of $252.86 and a two-hundred day simple moving average of $234.92. The stock has a market capitalization of $45.05 billion, a price-to-earnings ratio of 50.03, a P/E/G ratio of 3.14 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.95 by $0.14. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. Analysts forecast that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mary T. Mcdowell sold 2,500 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $250.00, for a total value of $625,000.00. Following the completion of the sale, the director now directly owns 39,316 shares in the company, valued at approximately $9,829,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $264.74, for a total transaction of $145,607.00. Following the completion of the transaction, the director now owns 38,766 shares in the company, valued at approximately $10,262,910.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary T. Mcdowell sold 2,500 shares of Autodesk stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $250.00, for a total value of $625,000.00. Following the transaction, the director now owns 39,316 shares of the company’s stock, valued at approximately $9,829,000. The disclosure for this sale can be found here. Insiders sold a total of 38,666 shares of company stock worth $10,090,055 in the last three months. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of hedge funds have recently added to or reduced their stakes in ADSK. Acadian Asset Management LLC boosted its stake in Autodesk by 351.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock valued at $775,000 after purchasing an additional 2,820 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Autodesk by 71.7% during the 1st quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock worth $960,000 after buying an additional 1,871 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Autodesk by 3.6% during the 1st quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock worth $1,006,000 after buying an additional 164 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of Autodesk during the 1st quarter worth approximately $218,000. Finally, Dakota Wealth Management lifted its position in shares of Autodesk by 18.0% during the 1st quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock worth $411,000 after buying an additional 292 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Company Profile

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.