Brokerages expect that Autodesk, Inc. (NASDAQ:ADSK) will post $786.76 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Autodesk’s earnings. The highest sales estimate is $790.20 million and the lowest is $783.40 million. Autodesk posted sales of $611.70 million during the same quarter last year, which suggests a positive year over year growth rate of 28.6%. The company is expected to issue its next earnings results after the market closes on Tuesday, August 27th.

According to Zacks, analysts expect that Autodesk will report full-year sales of $3.28 billion for the current fiscal year, with estimates ranging from $3.27 billion to $3.30 billion. For the next year, analysts anticipate that the firm will report sales of $4.01 billion, with estimates ranging from $3.91 billion to $4.08 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Autodesk.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, May 23rd. The software company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). Autodesk had a negative net margin of 0.82% and a negative return on equity of 26.61%. The business had revenue of $735.50 million during the quarter, compared to analyst estimates of $740.14 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up 31.4% on a year-over-year basis.

A number of analysts have weighed in on ADSK shares. ValuEngine cut Autodesk from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub downgraded Autodesk from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Zacks Investment Research downgraded Autodesk from a “hold” rating to a “strong sell” rating and set a $169.00 price objective for the company. in a research report on Monday, June 3rd. Griffin Securities restated a “buy” rating and set a $193.00 price objective (up from $188.00) on shares of Autodesk in a research report on Friday, May 24th. Finally, Wedbush cut their price objective on Autodesk from $166.00 to $164.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $174.79.

In related news, CEO Andrew Anagnost sold 2,434 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $169.47, for a total transaction of $412,489.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Blasing sold 1,300 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $164.54, for a total transaction of $213,902.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,773 shares of company stock valued at $1,109,297. 0.12% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. First Manhattan Co. lifted its holdings in Autodesk by 221.2% in the 1st quarter. First Manhattan Co. now owns 167 shares of the software company’s stock worth $26,000 after buying an additional 115 shares in the last quarter. Farmers National Bank acquired a new position in Autodesk in the 1st quarter worth $32,000. Thor Advisors LLC acquired a new position in Autodesk in the 1st quarter worth $38,000. Osborn Williams & Donohoe LLC acquired a new position in Autodesk in the 1st quarter worth $43,000. Finally, Next Capital Management LLC lifted its holdings in Autodesk by 62.8% in the 2nd quarter. Next Capital Management LLC now owns 280 shares of the software company’s stock worth $46,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Autodesk stock traded down $1.22 during midday trading on Tuesday, reaching $143.99. The company’s stock had a trading volume of 2,286,727 shares, compared to its average volume of 2,206,473. Autodesk has a fifty-two week low of $117.72 and a fifty-two week high of $178.95. The company has a market cap of $31.89 billion, a P/E ratio of 1,309.00, a P/E/G ratio of 2.32 and a beta of 1.79. The business has a 50-day simple moving average of $159.54 and a 200-day simple moving average of $162.76.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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