Autodesk (NASDAQ:ADSK) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Autodesk from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $321.19.
• Autodesk’s latest quarterly results exceeded expectations, with adjusted EPS of $3.30 versus the $3.12 consensus and revenue of $2.05 billion, up 16.1% year over year.
• Autodesk shares were reported down 8.3%, opening at $217.90, below the consensus target; institutional investors own approximately 90.24% of the company.

Autodesk (NASDAQ:ADSK - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday, Wall Street Zen reports.

Other analysts have also issued research reports about the company. BNP Paribas Exane boosted their price target on Autodesk from $295.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 28th. Guggenheim lifted their price objective on Autodesk from $277.00 to $283.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Argus reiterated a "buy" rating and set a $355.00 price objective on shares of Autodesk in a research note on Wednesday. Berenberg Bank set a $333.00 target price on shares of Autodesk in a research note on Tuesday. Finally, Weiss Ratings raised shares of Autodesk from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Autodesk has a consensus rating of "Moderate Buy" and a consensus target price of $321.19.

Autodesk Stock Down 8.3%

Shares of ADSK stock opened at $217.90 on Friday. Autodesk has a 12 month low of $185.50 and a 12 month high of $329.09. The stock has a market cap of $45.54 billion, a P/E ratio of 28.19, a P/E/G ratio of 1.44 and a beta of 1.31. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The company has a 50 day simple moving average of $230.90 and a two-hundred day simple moving average of $232.50.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.12 by $0.18. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.62 EPS. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. On average, research analysts expect that Autodesk will post 9.64 earnings per share for the current year.

Insider Activity at Autodesk

In other Autodesk news, Director John T. Cahill purchased 2,000 shares of Autodesk stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the transaction, the director owned 4,000 shares of the company's stock, valued at approximately $756,800. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Janesh Moorjani bought 2,500 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were acquired at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the transaction, the executive vice president directly owned 50,993 shares in the company, valued at approximately $10,079,786.31. This represents a 5.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP increased its holdings in shares of Autodesk by 17.8% in the 1st quarter. Quantinno Capital Management LP now owns 385,572 shares of the software company's stock valued at $92,306,000 after acquiring an additional 58,285 shares during the period. SG Americas Securities LLC lifted its stake in shares of Autodesk by 158.4% during the 1st quarter. SG Americas Securities LLC now owns 272,548 shares of the software company's stock worth $65,248,000 after purchasing an additional 167,064 shares during the last quarter. Man Group plc boosted its position in Autodesk by 28.6% during the fourth quarter. Man Group plc now owns 1,229,946 shares of the software company's stock valued at $364,076,000 after purchasing an additional 273,765 shares in the last quarter. Deutsche Bank AG purchased a new position in Autodesk in the second quarter valued at about $322,851,000. Finally, Seilern Investment Management Ltd grew its stake in Autodesk by 11.0% in the second quarter. Seilern Investment Management Ltd now owns 227,675 shares of the software company's stock valued at $44,265,000 after purchasing an additional 22,547 shares during the last quarter. Institutional investors own 90.24% of the company's stock.

About Autodesk

Autodesk, Inc NASDAQ: ADSK is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company's product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.

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