Autodesk (NASDAQ:ADSK) Shares Down 3.7%

Autodesk, Inc. (NASDAQ:ADSK - Get Free Report)'s share price dropped 3.7% during mid-day trading on Thursday . The company traded as low as $206.83 and last traded at $206.97. Approximately 355,927 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,362,015 shares. The stock had previously closed at $214.92.

Analyst Ratings Changes

ADSK has been the subject of a number of research analyst reports. Stifel Nicolaus reaffirmed a "buy" rating and issued a $316.00 target price on shares of Autodesk in a report on Friday, April 12th. Citigroup increased their target price on shares of Autodesk from $276.00 to $307.00 and gave the company a "buy" rating in a report on Monday, February 26th. TheStreet raised shares of Autodesk from a "c+" rating to a "b-" rating in a report on Friday, December 29th. Oppenheimer increased their price target 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. Finally, Piper Sandler increased their price target on shares of Autodesk from $234.00 to $260.00 and gave the company a "neutral" rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $272.44.

Autodesk Stock Performance

The stock's 50-day moving average is $253.88 and its 200-day moving average is $235.09. The stock has a market cap of $45.05 billion, a price-to-earnings ratio of 51.05, a price-to-earnings-growth ratio of 3.14 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75.

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

Insiders Place Their Bets

In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the transaction, the chief accounting officer now owns 3,450 shares of the company's stock, valued at $898,621.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Stephen W. Hope sold 1,757 shares of the firm's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the transaction, the chief accounting officer now owns 3,450 shares of the company's stock, valued at approximately $898,621.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rebecca Pearce sold 1,628 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the transaction, 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. Insiders have sold a total of 46,220 shares of company stock valued at $11,933,231 over the last quarter. Company insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On Autodesk

A number of hedge funds have recently made changes to their positions in the business. Exchange Capital Management Inc. purchased a new position in shares of Autodesk in the 1st quarter valued at $481,000. Congress Wealth Management LLC DE increased its stake in Autodesk by 3.1% during the 1st quarter. Congress Wealth Management LLC DE now owns 11,922 shares of the software company's stock worth $3,105,000 after buying an additional 361 shares during the period. Oak Thistle LLC purchased a new stake in Autodesk during the 1st quarter worth $313,000. Sandy Cove Advisors LLC purchased a new stake in Autodesk during the 1st quarter worth $200,000. Finally, Trilogy Capital Inc. purchased a new stake in Autodesk during the 1st quarter worth $407,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

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.