Autodesk (NASDAQ:ADSK) Downgraded by Berenberg Bank to "Hold"

Autodesk (NASDAQ:ADSK - Get Free Report) was downgraded by stock analysts at Berenberg Bank from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday, MarketBeat reports. They presently have a $295.00 price target on the software company's stock. Berenberg Bank's price objective suggests a potential upside of 40.00% from the stock's current price.

ADSK has been the subject of several other research reports. Piper Sandler Companies boosted their price target on shares of Autodesk from $234.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, March 1st. Stifel Nicolaus restated a "buy" rating and issued a $316.00 target price on shares of Autodesk in a research report on Friday, April 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $320.00 price target on shares of Autodesk in a research report on Monday, April 1st. Mizuho raised their price objective on Autodesk from $220.00 to $270.00 and gave the company a "neutral" rating in a report on Friday, March 1st. Finally, Oppenheimer increased their target price on shares of Autodesk from $265.00 to $315.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Autodesk has an average rating of "Hold" and a consensus price target of $274.67.

Autodesk Stock Performance

NASDAQ ADSK traded down $2.14 during mid-day trading on Wednesday, reaching $210.71. 1,687,719 shares of the stock were exchanged, compared to its average volume of 1,472,120. The company has a market capitalization of $45.40 billion, a P/E ratio of 50.56, a P/E/G ratio of 2.98 and a beta of 1.43. 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 business's 50 day moving average is $245.86 and its 200-day moving average is $235.68. Autodesk has a 1 year low of $189.54 and a 1 year high of $279.53.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its earnings results on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period last year, the firm earned $1.26 EPS. The company's quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that Autodesk will post 5.38 EPS for the current fiscal year.

Insider Activity

In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the company's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the transaction, the chief accounting officer now directly owns 3,450 shares in the company, valued at $898,621.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the business's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the sale, the chief accounting officer now directly owns 3,450 shares in the company, valued at $898,621.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rebecca Pearce sold 1,628 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $251.54, for a total transaction of $409,507.12. Following the sale, the executive vice president now directly owns 13,620 shares in the company, valued at approximately $3,425,974.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,166 shares of company stock valued at $9,465,055. Company insiders own 0.14% of the company's stock.

Institutional Trading of Autodesk

A number of large investors have recently modified their holdings of ADSK. Concord Wealth Partners acquired a new stake in Autodesk in the 1st quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Autodesk during the fourth quarter worth approximately $25,000. Bfsg LLC purchased a new stake in shares of Autodesk during the fourth quarter worth approximately $27,000. Rakuten Securities Inc. acquired a new stake in Autodesk in the fourth quarter valued at approximately $28,000. Finally, Private Wealth Management Group LLC purchased a new position in Autodesk in the fourth quarter worth approximately $31,000. 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.