Autodesk (NASDAQ:ADSK) Cut to “Hold” at Deutsche Bank

Deutsche Bank cut shares of Autodesk (NASDAQ:ADSK) from a buy rating to a hold rating in a research note published on Thursday, 24/7 WallStreet reports. They currently have $165.00 price target on the software company’s stock, down from their prior price target of $180.00.

A number of other research firms have also commented on ADSK. Griffin Securities reaffirmed a buy rating and issued a $193.00 price objective (up from $188.00) on shares of Autodesk in a research note on Friday, May 24th. Wedbush cut their price objective on Autodesk from $166.00 to $164.00 and set a neutral rating on the stock in a research note on Friday, May 24th. Citigroup assumed coverage on Autodesk in a research note on Monday, July 22nd. They issued a buy rating and a $210.00 price objective on the stock. BidaskClub lowered Autodesk from a hold rating to a sell rating in a research note on Friday, August 2nd. Finally, Zacks Investment Research lowered Autodesk from a hold rating to a strong sell rating and set a $169.00 price objective on the stock. in a research note on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. Autodesk currently has an average rating of Hold and a consensus price target of $174.35.

Autodesk stock opened at $144.13 on Thursday. The stock’s 50 day moving average is $162.67 and its 200 day moving average is $163.10. The firm has a market cap of $31.39 billion, a P/E ratio of 1,310.27, a P/E/G ratio of 2.26 and a beta of 1.79. Autodesk has a one year low of $117.72 and a one year high of $178.95.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, May 23rd. The software company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). The company had revenue of $735.50 million during 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%. Autodesk’s revenue was up 31.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. As a group, analysts predict that Autodesk will post 1.66 EPS for the current year.

In other news, Director Crawford W. Beveridge sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $161.09, for a total transaction of $161,090.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Blasing sold 1,300 shares of the business’s stock in a transaction that occurred 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 three months, insiders sold 6,773 shares of company stock worth $1,109,297. Insiders own 0.12% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Autodesk by 2.2% during the first quarter. FMR LLC now owns 9,039,419 shares of the software company’s stock valued at $1,408,523,000 after acquiring an additional 190,871 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of Autodesk by 13.9% during the second quarter. Brown Advisory Inc. now owns 3,152,280 shares of the software company’s stock valued at $513,507,000 after acquiring an additional 384,266 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Autodesk by 2.3% during the second quarter. Invesco Ltd. now owns 3,060,683 shares of the software company’s stock valued at $498,585,000 after acquiring an additional 67,647 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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. Finally, Egerton Capital UK LLP increased its holdings in shares of Autodesk by 21.7% during the second quarter. Egerton Capital UK LLP now owns 2,712,880 shares of the software company’s stock valued at $441,928,000 after acquiring an additional 484,101 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

About Autodesk

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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