Autodesk Inc. (ADSK) Given “Hold” Rating at Canaccord Genuity
Autodesk Inc. (NASDAQ:ADSK)‘s stock had its “hold” rating restated by equities researchers at Canaccord Genuity in a research note issued to investors on Wednesday. They currently have a $70.00 price target on the software company’s stock. Canaccord Genuity’s target price would suggest a potential downside of 6.96% from the company’s current price.
ADSK has been the topic of a number of other reports. Wedbush reiterated a “neutral” rating and issued a $76.00 price target (up from $70.00) on shares of Autodesk in a report on Wednesday. Pacific Crest restated an “overweight” rating and set a $81.00 target price on shares of Autodesk in a research note on Wednesday, November 23rd. RBC Capital Markets restated a “sector perform” rating and set a $64.00 target price (up from $60.00) on shares of Autodesk in a research note on Sunday, August 21st. Rosenblatt Securities downgraded Autodesk from a “neutral” rating to a “sell” rating in a research note on Tuesday, August 30th. Finally, Zacks Investment Research upgraded Autodesk from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Tuesday, October 4th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $69.81.
Autodesk (NASDAQ:ADSK) traded down 3.45% on Wednesday, hitting $72.66. The stock had a trading volume of 8,227,842 shares. The company has a 50 day moving average price of $72.33 and a 200-day moving average price of $64.22. The company’s market cap is $16.12 billion. Autodesk has a 52-week low of $41.60 and a 52-week high of $78.58.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 29th. The software company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.06. Autodesk had a negative return on equity of 5.95% and a negative net margin of 15.05%. The business had revenue of $489.60 million for the quarter. During the same quarter in the prior year, the business posted $0.14 earnings per share. The company’s revenue was down 18.4% compared to the same quarter last year. On average, equities research analysts predict that Autodesk will post ($0.60) earnings per share for the current year.
In other news, Director Crawford W. Beveridge sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $67.58, for a total value of $473,060.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jan Becker sold 17,363 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were 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. Company insiders own 6.20% of the company’s stock.
Several large investors have recently bought and sold shares of ADSK. Bank of Montreal Can bought a new stake in Autodesk during the second quarter worth about $3,393,000. Daiwa Securities Group Inc. raised its stake in Autodesk by 5.8% in the second quarter. Daiwa Securities Group Inc. now owns 5,500 shares of the software company’s stock worth $298,000 after buying an additional 300 shares during the period. Meeder Asset Management Inc. raised its stake in Autodesk by 27.9% in the second quarter. Meeder Asset Management Inc. now owns 2,396 shares of the software company’s stock worth $130,000 after buying an additional 522 shares during the period. Oakbrook Investments LLC raised its stake in Autodesk by 19.4% in the second quarter. Oakbrook Investments LLC now owns 497,378 shares of the software company’s stock worth $26,928,000 after buying an additional 80,877 shares during the period. Finally, Berkshire Asset Management LLC PA raised its stake in Autodesk by 21.9% in the second quarter. Berkshire Asset Management LLC PA now owns 11,142 shares of the software company’s stock worth $603,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 96.18% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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