Skip to content

Autodesk (NASDAQ:ADSK) Shares Gap Down Following Analyst Downgrade – MarketBeat

Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
Autodesk, Inc. (NASDAQ:ADSKGet Rating) gapped down prior to trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $260.00 to $225.00. The stock had previously closed at $208.90, but opened at $188.78. Autodesk shares last traded at $190.76, with a volume of 31,590 shares trading hands.
Several other research analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Autodesk from $255.00 to $225.00 in a research note on Wednesday. Barclays reduced their target price on shares of Autodesk from $275.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday. Bank of America reduced their target price on shares of Autodesk from $240.00 to $225.00 in a report on Wednesday. Rosenblatt Securities reduced their target price on shares of Autodesk from $270.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. assumed coverage on shares of Autodesk in a report on Friday, September 16th. They issued a “neutral” rating and a $203.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $241.57.

Insider Activity

In other news, CEO Andrew Anagnost sold 34,366 shares of Autodesk stock in a transaction on Monday, August 29th. The shares were sold at an average price of $206.87, for a total value of $7,109,294.42. Following the transaction, the chief executive officer now directly owns 76,968 shares of the company’s stock, valued at approximately $15,922,370.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of institutional investors have recently modified their holdings of the business. Lone Pine Capital LLC purchased a new position in Autodesk in the 3rd quarter valued at $414,972,000. Polen Capital Management LLC grew its position in Autodesk by 18.7% in the 1st quarter. Polen Capital Management LLC now owns 8,650,112 shares of the software company’s stock valued at $1,854,152,000 after buying an additional 1,365,221 shares during the last quarter. Ninety One UK Ltd grew its position in Autodesk by 29.0% in the 1st quarter. Ninety One UK Ltd now owns 3,393,123 shares of the software company’s stock valued at $727,316,000 after buying an additional 762,242 shares during the last quarter. Parnassus Investments LLC grew its position in Autodesk by 480.0% in the 1st quarter. Parnassus Investments LLC now owns 565,307 shares of the software company’s stock valued at $121,174,000 after buying an additional 467,842 shares during the last quarter. Finally, Amundi grew its position in Autodesk by 26.5% in the 2nd quarter. Amundi now owns 1,787,226 shares of the software company’s stock valued at $305,545,000 after buying an additional 374,086 shares during the last quarter. 86.44% of the stock is owned by institutional investors and hedge funds.

Autodesk Stock Down 7.8 %

The company has a market capitalization of $41.58 billion, a PE ratio of 75.40, a price-to-earnings-growth ratio of 1.83 and a beta of 1.49. The firm’s 50-day simple moving average is $201.79 and its 200 day simple moving average is $198.87. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.64 and a current ratio of 0.64.
Autodesk (NASDAQ:ADSKGet Rating) last issued its earnings results on Tuesday, November 22nd. The software company reported $1.70 EPS for the quarter, hitting the consensus estimate of $1.70. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. Autodesk had a net margin of 11.76% and a return on equity of 88.57%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. As a group, equities research analysts forecast that Autodesk, Inc. will post 4.13 earnings per share for the current year.

Autodesk Company Profile

(Get Rating)
Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

Recommended Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Autodesk, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Autodesk wasn’t on the list.
While Autodesk currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Complete the form below to receive the latest headlines and analysts’ recommendations for your stocks with our free daily email newsletter:
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
As Featured By:
326 E 8th St #105, Sioux Falls, SD 57103
contact@marketbeat.com
(844) 978-6257
© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.

source

Share:

Pulse Handshak

Pulse Handshak

Collaborative online survey tool for the market research industry. Remote assisted surveying just like face-to-face interviews. Here interviewers can talk to the respondent over the web-console without the need for any other communication channel and share the same Q're with responses and click actions.

Pulse FE

Pulse FE

Pulse Field Expert or Pulse FE is the main platform for both offline and online survey at softofficepro.com. It is robust and used by hundreds of clients over tens of years with millions of responses. Do it once Q're and deploy on both offline devices (android) and online forms makes it a great cost effective platform for any kind of responses

Pulse Ultimate

Pulse Ultimate

Pulse Ultimate is targeted for tracking studies and retail audits. An offline survey system offering extreme field control including processes like data quality check, back-check, rework, comparison with previous wave data etc. helps to get the best results on a day-to-day basis

More Posts