Autodesk (NASDAQ:ADSK - Get Rating) had its target price decreased by equities research analysts at Moffett Nathanson to $177.00 in a report issued on Thursday, Stock Target Advisor reports. Moffett Nathanson's price target points to a potential downside of 10.18% from the company's previous close.
Other equities research analysts have also recently issued reports about the company. KeyCorp decreased their price target on Autodesk from $264.00 to $237.00 and set an "overweight" rating on the stock in a research report on Wednesday. Mizuho cut Autodesk from a "buy" rating to a "neutral" rating and decreased their price target for the company from $260.00 to $210.00 in a research report on Wednesday. Oppenheimer decreased their price target on Autodesk from $255.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday. Citigroup decreased their price target on Autodesk from $277.00 to $256.00 and set a "buy" rating on the stock in a research report on Friday, November 18th. Finally, StockNews.com initiated coverage on Autodesk in a report on Wednesday, October 12th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $240.19.
Autodesk Stock Down 5.7 %
NASDAQ ADSK traded down $11.83 during mid-day trading on Thursday, hitting $197.07. The company's stock had a trading volume of 6,274,813 shares, compared to its average volume of 1,730,194. Autodesk has a twelve month low of $163.20 and a twelve month high of $285.38. The company's 50 day simple moving average is $201.56 and its 200 day simple moving average is $198.86. The firm has a market capitalization of $42.54 billion, a price-to-earnings ratio of 69.64, a PEG ratio of 1.85 and a beta of 1.49. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.08.
Autodesk (NASDAQ:ADSK - Get Rating) last announced its quarterly earnings data on Tuesday, November 22nd. The software company reported $1.70 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.70. Autodesk had a return on equity of 113.63% and a net margin of 12.64%. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the business posted $0.68 EPS. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. Analysts anticipate that Autodesk will post 4.13 earnings per share for the current year.
In related news, CEO Andrew Anagnost sold 34,366 shares of the company's stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the completion of the transaction, the chief executive officer now owns 76,968 shares in the company, valued at $15,922,370.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.11% of the company's stock.
Hedge Funds Weigh In On Autodesk
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Venture Visionary Partners LLC bought a new position in Autodesk in the second quarter worth $30,000. TD Capital Management LLC bought a new position in Autodesk in the third quarter worth $30,000. Resources Management Corp CT ADV raised its holdings in Autodesk by 1,100.0% in the second quarter. Resources Management Corp CT ADV now owns 180 shares of the software company's stock worth $31,000 after purchasing an additional 165 shares in the last quarter. CNB Bank raised its holdings in Autodesk by 107.9% in the second quarter. CNB Bank now owns 185 shares of the software company's stock worth $32,000 after purchasing an additional 96 shares in the last quarter. Finally, First Manhattan Co. raised its holdings in Autodesk by 342.9% in the first quarter. First Manhattan Co. now owns 155 shares of the software company's stock worth $33,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 86.44% of the company's stock.
Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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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