Autodesk (ADSK) Given a $140.00 Price Target at Deutsche Bank
Several other equities research analysts also recently issued reports on the company. KeyCorp restated a buy rating and set a $128.00 price objective on shares of Autodesk in a report on Friday, November 10th. Cowen lifted their target price on Autodesk from $115.00 to $128.00 and gave the stock an outperform rating in a research report on Friday, August 25th. Canaccord Genuity reiterated a buy rating and issued a $140.00 target price (up previously from $125.00) on shares of Autodesk in a research report on Thursday, November 16th. Guggenheim upgraded Autodesk from a neutral rating to a buy rating and set a $150.00 target price for the company in a research report on Monday, November 13th. Finally, Evercore ISI set a $135.00 target price on Autodesk and gave the stock a buy rating in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $130.33.
Autodesk (NASDAQ:ADSK) traded down $20.61 during mid-day trading on Wednesday, reaching $109.34. The company’s stock had a trading volume of 19,486,900 shares, compared to its average volume of 2,078,531. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 5.02. Autodesk has a 52 week low of $68.06 and a 52 week high of $131.10.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 28th. The software company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. Autodesk had a negative return on equity of 75.04% and a negative net margin of 28.46%. The company had revenue of $515.30 million for the quarter, compared to the consensus estimate of $513.63 million. During the same period in the previous year, the business earned ($0.18) EPS. Autodesk’s revenue for the quarter was up 5.2% compared to the same quarter last year. equities analysts forecast that Autodesk will post -1.38 EPS for the current fiscal year.
In related news, CFO Richard Scott Herren sold 5,738 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $128.14, for a total transaction of $735,267.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steven M. Blum sold 9,128 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $112.26, for a total value of $1,024,709.28. The disclosure for this sale can be found here. Insiders have sold a total of 61,523 shares of company stock valued at $7,218,659 in the last 90 days. Insiders own 6.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ADSK. Meritage Group LP boosted its position in Autodesk by 3,910.0% during the 3rd quarter. Meritage Group LP now owns 2,243,728 shares of the software company’s stock valued at $251,881,000 after purchasing an additional 2,187,774 shares during the period. Sustainable Growth Advisers LP acquired a new position in Autodesk during the 2nd quarter valued at approximately $208,956,000. Renaissance Technologies LLC acquired a new position in Autodesk during the 2nd quarter valued at approximately $140,338,000. Neuberger Berman Group LLC boosted its position in Autodesk by 979.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 978,964 shares of the software company’s stock valued at $98,699,000 after purchasing an additional 888,233 shares during the period. Finally, Fred Alger Management Inc. boosted its position in Autodesk by 52.3% during the 2nd quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock valued at $243,405,000 after purchasing an additional 829,021 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.
Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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