Autodesk (NASDAQ:ADSK) Cut to Hold at Berenberg Bank

Berenberg Bank downgraded shares of Autodesk (NASDAQ:ADSK) from a buy rating to a hold rating in a report published on Wednesday, Marketbeat Ratings reports. Berenberg Bank currently has $295.00 price target on the software company’s stock.

ADSK has been the subject of several other research reports. Royal Bank of Canada reiterated an outperform rating and set a $320.00 target price on shares of Autodesk in a research note on Monday, April 1st. The Goldman Sachs Group raised their price target on Autodesk from $180.00 to $230.00 and gave the company a sell rating in a report on Friday, March 1st. Piper Sandler Companies boosted their target price on shares of Autodesk from $234.00 to $260.00 and gave the stock a neutral rating in a research report on Friday, March 1st. Stifel Nicolaus reiterated a buy rating and issued a $316.00 price target on shares of Autodesk in a report on Friday, April 12th. Finally, Piper Sandler upped their target price on Autodesk from $234.00 to $260.00 and gave the company a neutral rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $274.67.

Autodesk Stock Up 2.5 %

Shares of NASDAQ ADSK opened at $215.19 on Wednesday. The stock has a market cap of $46.37 billion, a P/E ratio of 51.11, a PEG ratio of 2.90 and a beta of 1.45. The business’s fifty day simple moving average is $244.08 and its 200-day simple moving average is $235.33. Autodesk has a 12-month low of $189.54 and a 12-month high of $279.53. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.14. The company had revenue of $1.47 billion for 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%. Autodesk’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 EPS. As a group, equities analysts predict that Autodesk will post 5.38 EPS for the current fiscal year.

Insider Activity

In related news, EVP Rebecca Pearce sold 1,628 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the completion of the sale, the executive vice president now directly owns 13,620 shares in the company, valued at $3,425,974.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the completion of the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rebecca Pearce sold 1,628 shares of Autodesk stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $251.54, for a total value of $409,507.12. Following the completion of the transaction, the executive vice president now directly owns 13,620 shares in the company, valued at $3,425,974.80. The disclosure for this sale can be found here. Insiders sold a total of 36,166 shares of company stock valued at $9,465,055 in the last 90 days. 0.14% of the stock is currently owned by insiders.

Institutional Trading of Autodesk

Institutional investors and hedge funds have recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Autodesk in the 4th quarter valued at $25,000. Concord Wealth Partners purchased a new position in Autodesk in the first quarter valued at about $25,000. Bfsg LLC acquired a new position in shares of Autodesk during the fourth quarter worth about $27,000. Rakuten Securities Inc. purchased a new stake in shares of Autodesk in the fourth quarter worth about $28,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at about $31,000. 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.