Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating reaffirmed by Griffin Securities in a research note issued to investors on Friday, Briefing.com Automated Import reports. They presently have a $193.00 price objective on the software company’s stock, up from their previous price objective of $188.00. Griffin Securities’ target price would indicate a potential upside of 21.58% from the company’s previous close.
ADSK has been the subject of a number of other reports. Wedbush boosted their target price on shares of Autodesk from $131.00 to $163.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. TheStreet raised shares of Autodesk from a “d” rating to a “c” rating in a research note on Thursday, February 28th. BidaskClub raised shares of Autodesk from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 17th. Deutsche Bank upped their price objective on shares of Autodesk to $180.00 and gave the stock a “buy” rating in a research note on Thursday, February 21st. Finally, Zacks Investment Research raised shares of Autodesk from a “strong sell” rating to a “hold” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Autodesk has an average rating of “Buy” and a consensus target price of $173.63.
Shares of ADSK traded down $10.80 during trading hours on Friday, reaching $158.74. 150,441 shares of the company traded hands, compared to its average volume of 1,712,856. The firm has a market capitalization of $38.31 billion, a P/E ratio of 1,443.27, a P/E/G ratio of 2.60 and a beta of 1.95. Autodesk has a 12-month low of $117.72 and a 12-month high of $178.95.
Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, May 23rd. The software company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). The firm had revenue of $735.50 million for the quarter, compared to analysts’ expectations of $740.14 million. The company’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 earnings per share. As a group, equities analysts forecast that Autodesk will post 1.76 EPS for the current year.
In other Autodesk news, SVP Steven M. Blum sold 16,838 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $168.68, for a total value of $2,840,233.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Crawford W. Beveridge sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $152.90, for a total transaction of $152,900.00. The disclosure for this sale can be found here. Insiders sold 58,577 shares of company stock valued at $9,509,716 over the last quarter. 0.12% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. First Bank & Trust raised its holdings in Autodesk by 326.5% in the fourth quarter. First Bank & Trust now owns 4,129 shares of the software company’s stock worth $531,000 after purchasing an additional 3,161 shares in the last quarter. Actinver Wealth Management Inc. acquired a new position in shares of Autodesk during the fourth quarter valued at about $645,000. First Foundation Advisors acquired a new position in shares of Autodesk during the fourth quarter valued at about $541,000. Pinnacle Associates Ltd. increased its holdings in shares of Autodesk by 12.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 56,650 shares of the software company’s stock valued at $7,286,000 after acquiring an additional 6,445 shares in the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of Autodesk by 16.6% during the fourth quarter. Raymond James Trust N.A. now owns 8,588 shares of the software company’s stock valued at $1,104,000 after acquiring an additional 1,223 shares in the last quarter. Institutional investors and hedge funds own 95.55% of the company’s stock.
Autodesk Company Profile
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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