Autodesk (NASDAQ:ADSK) received a “neutral” rating from Piper Sandler

Piper Sandler maintained a neutral recommendation for the company’s shares Autodesk (NASDAQ:ADSK – Free Report) in a report published on Wednesday, Benzinga reports. Piper Sandler’s stock price target is currently $239.00.

Other analysts have also published reports on the stock. KeyCorp lowered their target price on shares of Autodesk from $320.00 to $305.00 and set an “overweight” rating on the company in a research note on Monday, May 20. Barclays lowered their price target on Autodesk shares from $310.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday. On Monday, April 1, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on Autodesk shares. The Goldman Sachs Group increased their target price on Autodesk from $180.00 to $230.00 and gave the stock a sell rating in a report on Friday, March 1st. Ultimately, Rosenblatt Securities reissued a buy rating and set a price target for Autodesk shares of $290.00 in Wednesday’s report. One analyst rated the company’s shares with a sell rating, nine with a hold rating, and nine with a buy rating. According to MarketBeat data, the company currently has an average rating of Hold and an average price target of $262.42.

Check out our latest analysis on ADSK

Autodesk stock performance

On Wednesday, ADSK’s share price rose to $223.02. The stock’s 50-day simple moving average is $219.54 and its 200-day simple moving average is $237.34. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt to equity ratio of 1.23. Autodesk has a 12-month low of $192.01 and a 12-month high of $279.53. The stock has a market capitalization of $48.06 billion, a PE ratio of 52.97, a price-to-earnings ratio of 2.96 and a beta of 1.43.

Autodesk (NASDAQ:ADSK – Get Free Report) last announced its quarterly earnings results on Tuesday, June 11th. The software company reported $1.87 earnings per share (EPS) for the quarter, $0.10 above analyst consensus estimates of $1.77. Autodesk achieved a return on equity of 75.01% and a net margin of 16.48%. The company’s revenue for the quarter was $1.42 billion, compared to the consensus estimate of $1.39 billion. During the same period last year, the company reported earnings per share of $1.55. The company’s quarterly revenues increased by 11.7% year over year. Analysts forecast that Autodesk as a group will post earnings per share of 5.41 for the current fiscal year.

Buying and selling confidential information

In related news, CEO Andrew Anagnost sold 21,053 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total value of $5,473,569.47. Following the transaction, the CEO now directly owns 105,213 shares of the company’s stock, valued at approximately $27,354,327.87. The transaction was disclosed in a legal filing filed with the SEC, which can be accessed through the SEC’s website. In other news, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction amount of $5,473,569.47. Following the sale, the CEO now owns 105,213 shares of the company’s stock, valued at $27,354,327.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. Additionally, CFO Deborah Clifford sold 5,553 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.01 for a total transaction of $1,443,835.53. Following the completion of the transaction, the CFO now directly owns 32,259 shares of the company’s stock, valued at approximately $8,387,662.59. The announcement of this sale can be found here. Over the last 90 days, insiders have sold 28,988 shares of company stock worth $7,534,941. 0.14% of the shares belong to corporate insiders.

Institutional inflows and outflows

Many institutional investors have recently made changes to their positions at ADSK. Price T Rowe Associates Inc. MD increased its stake in Autodesk by 263.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after purchasing an additional 4,563,668 shares in the last quarter. Norges Bank acquired a new stake in shares of Autodesk during the fourth quarter valued at approximately $619,404,000. Meritage Group LP purchased a new position in shares of Autodesk during the third quarter worth approximately $170,972,000. Van ECK Associates Corp increased its stake in shares of Autodesk by 1,162.9% during the first quarter. Van ECK Associates Corp now owns 817,808 shares of the software company’s stock valued at $212,973,000 after purchasing an additional 753,051 shares in the last quarter. Finally, FIL Ltd increased its position in Autodesk by 19.6% in the fourth quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after purchasing an additional 479,559 shares in the last quarter. Hedge funds and other institutional investors hold 90.24% of the company’s shares.

Autodesk company profile

(Get the free report)

Autodesk, Inc delivers 3D design, engineering and entertainment solutions worldwide. The company offers AutoCAD Civil 3D, a measurement, design, analysis and documentation solution for civil engineering, including land development, transportation and environmental projects; BuildingConnected, a pre-construction SaaS solution; AutoCAD, software for professional design, drawing, detailing and visualization; AutoCAD LT, drafting and detailing software; Computer-aided manufacturing (CAM) software for machining, inspection and modeling using computer numerical control for manufacturing; Fusion 360, a 3D CAD, CAM and computer-aided engineering tool; and industry collection tools for professionals in the architecture, engineering and construction, product design and manufacturing, and media collection and entertainment industries.

Further reading

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