Autodesk (NASDAQ:ADSK) Rating Lowered to Buy at Wall Street Zen

Key Points

• Autodesk has been downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating, reflecting a shift in analyst sentiment.
• Seventeen analysts currently rate Autodesk stock as a Buy, with a consensus price target of $356.83.
• Recent insider activity shows significant stock sales by executives, with one EVP reducing their holdings by 63.12%.

Autodesk (NASDAQ:ADSK - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

Several other brokerages have also recently commented on ADSK. Loop Capital began coverage on shares of Autodesk in a research note on Monday, July 21st. They set a "hold" rating and a $320.00 price objective for the company. Barclays boosted their price objective on shares of Autodesk from $355.00 to $385.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Bank of America boosted their price objective on shares of Autodesk from $330.00 to $360.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Oppenheimer boosted their price objective on shares of Autodesk from $350.00 to $375.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Autodesk from $360.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Autodesk has an average rating of "Moderate Buy" and a consensus price target of $356.83.

Autodesk Stock Performance

NASDAQ ADSK opened at $322.88 on Friday. The company's 50 day moving average is $305.46 and its 200-day moving average is $290.74. Autodesk has a 12-month low of $232.67 and a 12-month high of $329.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.91. The firm has a market cap of $68.77 billion, a P/E ratio of 66.85, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49.

Insider Activity

In related news, EVP Steven M. Blum sold 22,420 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $323.75, for a total transaction of $7,258,475.00. Following the sale, the executive vice president directly owned 13,099 shares of the company's stock, valued at approximately $4,240,801.25. This represents a 63.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rebecca Pearce sold 6,129 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the sale, the executive vice president directly owned 13,311 shares in the company, valued at $4,300,251.66. This trade represents a 31.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,830 shares of company stock valued at $13,123,341. Company insiders own 0.15% of the company's stock.

Institutional Trading of Autodesk

A number of institutional investors have recently made changes to their positions in ADSK. Brighton Jones LLC boosted its holdings in shares of Autodesk by 14.5% during the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company's stock valued at $343,000 after acquiring an additional 147 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Autodesk by 98.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,604 shares of the software company's stock valued at $9,932,000 after buying an additional 16,665 shares in the last quarter. Parallel Advisors LLC grew its holdings in Autodesk by 9.3% during the 1st quarter. Parallel Advisors LLC now owns 3,117 shares of the software company's stock valued at $816,000 after buying an additional 264 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of Autodesk by 54.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,665 shares of the software company's stock valued at $1,221,000 after purchasing an additional 1,637 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Autodesk by 2.7% in the first quarter. Rhumbline Advisers now owns 414,780 shares of the software company's stock valued at $108,589,000 after purchasing an additional 11,001 shares in the last quarter. Hedge funds and other institutional investors 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.

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