Trading Report: Today, Autodesk, Inc. (ADSK) Stock Rating Reaffirm by Pacific Crest

Today, Autodesk, Inc. (ADSK) Stock Rating Reaffirm by Pacific Crest

Autodesk, Inc. (NASDAQ:ADSK)‘s stock had its “overweight” rating reissued by research analysts at Pacific Crest in a report released on Wednesday. They currently have a $81.00 price objective on the software company’s stock. Pacific Crest’s price objective would indicate a potential upside of 7.78% from the company’s previous close.

ADSK has been the subject of several other reports. Zacks Investment Research upgraded Autodesk from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Tuesday, October 4th. Evercore ISI started coverage on Autodesk in a research note on Wednesday, September 14th. They issued a “buy” rating and a $80.00 target price for the company. Wedbush started coverage on Autodesk in a research note on Friday, September 9th. They issued a “neutral” rating and a $60.00 target price for the company. Robert W. Baird upped their target price on Autodesk from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, August 26th. Finally, Mitsubishi UFJ Financial Group lowered Autodesk from an “equal weight” rating to an “underweight” rating and set a $50.00 target price for the company. in a research note on Monday, August 29th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $68.42.

Autodesk (NASDAQ:ADSK) opened at 75.15 on Wednesday. Autodesk has a 52 week low of $41.60 and a 52 week high of $78.58. The stock has a 50 day moving average price of $72.18 and a 200 day moving average price of $63.91. The stock’s market cap is $16.68 billion.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.18. Autodesk had a negative return on equity of 5.95% and a negative net margin of 15.05%. The company earned $550.70 million during the quarter, compared to analysts’ expectations of $511.49 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities analysts predict that Autodesk will post ($0.60) earnings per share for the current year.

In other news, SVP Andrew Anagnost sold 4,525 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $70.00, for a total transaction of $316,750.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jan Becker sold 17,363 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $71.48, for a total value of $1,241,107.24. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in Autodesk by 23.8% in the second quarter. FMR LLC now owns 20,026,572 shares of the software company’s stock valued at $1,084,239,000 after buying an additional 3,844,505 shares in the last quarter. Iridian Asset Management LLC CT acquired a new stake in Autodesk during the second quarter valued at approximately $132,576,000. First Eagle Investment Management LLC acquired a new stake in Autodesk during the second quarter valued at approximately $37,658,000. Loomis Sayles & Co. L P boosted its stake in Autodesk by 6.7% in the second quarter. Loomis Sayles & Co. L P now owns 8,603,758 shares of the software company’s stock valued at $465,808,000 after buying an additional 541,494 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in Autodesk by 2,280.7% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 393,808 shares of the software company’s stock valued at $28,484,000 after buying an additional 377,266 shares in the last quarter. Institutional investors and hedge funds own 96.82% of the company’s stock.

Autodesk Company Profile

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