ValuEngine Lowers Autodesk (NASDAQ:ADSK) to Hold

Autodesk (NASDAQ:ADSK) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, ValuEngine reports.

Several other research analysts also recently weighed in on the company. KeyCorp began coverage on Autodesk in a research note on Wednesday, April 10th. They set an “overweight” rating and a $196.00 target price for the company. Wedbush reduced their target price on Autodesk from $166.00 to $164.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. BidaskClub downgraded Autodesk from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Zacks Investment Research cut Autodesk from a “hold” rating to a “strong sell” rating and set a $169.00 price target for the company. in a research report on Monday, June 3rd. Finally, Citigroup assumed coverage on Autodesk in a research report on Monday, July 22nd. They set a “buy” rating and a $210.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $173.95.

Shares of ADSK stock traded down $2.70 during trading hours on Thursday, hitting $153.47. 2,452,259 shares of the company’s stock were exchanged, compared to its average volume of 1,725,359. The company has a market capitalization of $33.71 billion, a price-to-earnings ratio of 1,395.18, a P/E/G ratio of 2.58 and a beta of 1.81. The business’s 50 day moving average price is $167.74. Autodesk has a fifty-two week low of $117.72 and a fifty-two week high of $178.95.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, May 23rd. The software company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The business had revenue of $735.50 million for the quarter, compared to analyst estimates of $740.14 million. Autodesk had a negative return on equity of 26.61% and a negative net margin of 0.82%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. On average, analysts anticipate that Autodesk will post 1.66 EPS for the current year.

In other Autodesk news, Director Crawford W. Beveridge sold 1,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $161.09, for a total value of $161,090.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Blasing sold 1,300 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $164.54, for a total value of $213,902.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,773 shares of company stock valued at $1,109,297. 0.12% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in Autodesk by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 2,869,972 shares of the software company’s stock valued at $368,471,000 after acquiring an additional 214,397 shares in the last quarter. Machina Capital S.A.S. purchased a new position in Autodesk during the fourth quarter valued at approximately $217,000. Liberty Wealth Management LLC purchased a new position in Autodesk during the fourth quarter valued at approximately $30,000. Nadler Financial Group Inc. purchased a new position in Autodesk during the first quarter valued at approximately $218,000. Finally, PFS Investments Inc. purchased a new position in Autodesk during the first quarter valued at approximately $709,000. Institutional investors own 92.86% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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