Autodesk (NASDAQ:ADSK) Shares Gap Down to $228.24

Autodesk, Inc. (NASDAQ:ADSK - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $228.24, but opened at $212.77. Autodesk shares last traded at $213.06, with a volume of 921,145 shares.

Wall Street Analysts Forecast Growth

ADSK has been the topic of a number of recent research reports. KeyCorp lifted their target price on Autodesk from $275.00 to $320.00 and gave the stock an "overweight" rating in a report on Friday, March 1st. Rosenblatt Securities boosted their price objective on Autodesk from $265.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, March 1st. TheStreet raised shares of Autodesk from a "c+" rating to a "b-" rating in a research note on Friday, December 29th. Oppenheimer lifted their target price on shares of Autodesk from $265.00 to $315.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st. Finally, Mizuho upped their price target on shares of Autodesk from $220.00 to $270.00 and gave the company a "neutral" rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Autodesk has an average rating of "Moderate Buy" and an average target price of $272.44.

Autodesk Price Performance

The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $254.75 and a 200-day simple moving average of $235.23. The stock has a market cap of $45.97 billion, a price-to-earnings ratio of 54.21, a price-to-earnings-growth ratio of 3.16 and a beta of 1.43.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.14. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.43 billion. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. Autodesk's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 earnings per share. As a group, equities research analysts expect that Autodesk, Inc. will post 5.38 EPS for the current year.

Insider Activity

In related news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The stock was 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 of the company's stock, valued at $898,621.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the sale, the chief executive officer now directly owns 105,213 shares in the company, valued at approximately $27,354,327.87. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the transaction, the chief accounting officer now directly owns 3,450 shares of the company's stock, valued at approximately $898,621.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,220 shares of company stock valued at $11,933,231. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Autodesk

Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its position in Autodesk by 351.2% in the first quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company's stock valued at $775,000 after buying an additional 2,820 shares in the last quarter. Panagora Asset Management Inc. grew its position in Autodesk by 71.7% during the 1st quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company's stock worth $960,000 after acquiring an additional 1,871 shares during the last quarter. Cetera Investment Advisers increased its holdings in Autodesk by 3.6% during the 1st quarter. Cetera Investment Advisers now owns 4,691 shares of the software company's stock valued at $1,006,000 after purchasing an additional 164 shares in the last quarter. Moors & Cabot Inc. bought a new position in Autodesk in the 1st quarter valued at $218,000. Finally, Dakota Wealth Management boosted its stake in Autodesk by 18.0% in the first quarter. Dakota Wealth Management now owns 1,915 shares of the software company's stock worth $411,000 after purchasing an additional 292 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

About Autodesk

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.