Autodesk (NASDAQ:ADSK) Shares Gap Down to $228.24

Autodesk, Inc. (NASDAQ:ADSK) shares gapped down before the market opened on Wednesday . The stock had previously closed at $228.24, but opened at $212.77. Autodesk shares last traded at $213.06, with a volume of 921,145 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ADSK shares. TheStreet raised shares of Autodesk from a “c+” rating to a “b-” rating in a research report on Friday, December 29th. Oppenheimer raised their target price on Autodesk from $265.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, March 1st. BMO Capital Markets boosted their target price on shares of Autodesk from $232.00 to $293.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $316.00 price target on shares of Autodesk in a report on Friday, April 12th. Finally, The Goldman Sachs Group increased their price objective on Autodesk from $180.00 to $230.00 and gave the company a “sell” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.44.

Autodesk Trading Down 8.0 %

The company has a market cap of $44.91 billion, a price-to-earnings ratio of 54.21, a PEG ratio of 3.16 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.82 and a quick ratio of 0.75. The business’s 50-day simple moving average is $254.75 and its 200-day simple moving average is $235.23.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.14. Autodesk had a return on equity of 75.01% and a net margin of 16.48%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $1.26 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. Research analysts predict that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In other news, CEO Andrew Anagnost sold 21,053 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $259.99, for a total value of $5,473,569.47. Following the transaction, the chief executive officer now directly owns 105,213 shares in the company, valued at approximately $27,354,327.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Deborah Clifford sold 5,553 shares of Autodesk stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $260.01, for a total value of $1,443,835.53. Following the completion of the sale, the chief financial officer now owns 32,259 shares in the company, valued at $8,387,662.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Anagnost sold 21,053 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The disclosure for this sale can be found here. Insiders sold a total of 46,220 shares of company stock worth $11,933,231 in the last ninety days. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Institutional investors have recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in Autodesk during the fourth quarter valued at approximately $25,000. Garner Asset Management Corp acquired a new stake in shares of Autodesk during the 4th quarter valued at approximately $26,000. Bfsg LLC bought a new position in Autodesk during the fourth quarter worth $27,000. Rakuten Securities Inc. acquired a new position in Autodesk in the fourth quarter worth $28,000. Finally, Harbour Investments Inc. increased its stake in Autodesk by 76.9% during the fourth quarter. Harbour Investments Inc. now owns 115 shares of the software company’s stock valued at $28,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing 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 tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.