Weiss Ratings Reaffirms "Hold (C+)" Rating for Autodesk (NASDAQ:ADSK)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for Autodesk (NASDAQ:ADSK), indicating a cautious stance from analysts.
• Recent analyses have revealed mixed ratings for Autodesk, with Piper Sandler raising their price target to $373.00 and Hsbc Global Res upgrading to a "Strong Buy."
• In recent insider trading, Director Ayanna Howard and EVP Rebecca Pearce each sold a significant number of shares, decreasing their ownership stakes by over 30% during the last quarter.

Autodesk (NASDAQ:ADSK - Get Free Report)'s stock had its "hold (c+)" rating reissued by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently commented on ADSK. Piper Sandler upped their price target on Autodesk from $361.00 to $373.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Wall Street Zen lowered Autodesk from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 28th. Stifel Nicolaus upped their price objective on Autodesk from $350.00 to $375.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Macquarie upped their price objective on Autodesk from $360.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Finally, Hsbc Global Res raised Autodesk from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $359.13.

Autodesk Trading Down 0.9%

ADSK traded down $2.78 during trading hours on Wednesday, reaching $311.41. The company's stock had a trading volume of 1,429,688 shares, compared to its average volume of 1,605,818. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.76 and a quick ratio of 0.76. The business's 50-day moving average is $307.90 and its 200-day moving average is $293.57. Autodesk has a fifty-two week low of $232.67 and a fifty-two week high of $329.09. The stock has a market cap of $66.33 billion, a PE ratio of 64.47, a P/E/G ratio of 2.87 and a beta of 1.49.

Insider Activity

In other news, Director Ayanna Howard sold 3,159 shares of Autodesk stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $325.00, for a total transaction of $1,026,675.00. Following the sale, the director directly owned 4,393 shares of the company's stock, valued at approximately $1,427,725. The trade was a 41.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rebecca Pearce sold 6,129 shares of Autodesk stock in a transaction on Friday, August 29th. The stock was sold at an average price of $323.06, for a total transaction of $1,980,034.74. Following the completion of the sale, the executive vice president owned 13,311 shares of the company's stock, valued at approximately $4,300,251.66. This trade represents a 31.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,386 shares of company stock valued at $11,433,201 over the last ninety days. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Heartwood Wealth Advisors LLC bought a new position in shares of Autodesk in the third quarter valued at $28,000. Access Investment Management LLC acquired a new position in Autodesk in the 2nd quarter worth about $28,000. Cheviot Value Management LLC bought a new stake in Autodesk in the first quarter worth $27,000. SouthState Corp raised its holdings in Autodesk by 500.0% during the first quarter. SouthState Corp now owns 96 shares of the software company's stock valued at $25,000 after buying an additional 80 shares in the last quarter. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Autodesk in the second quarter worth about $31,000. Institutional investors and hedge funds 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.

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