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

Autodesk, Inc. (NASDAQ:ADSK)’s stock price gapped down prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. KeyCorp boosted their price target on shares of Autodesk from $275.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Barclays boosted their price target on shares of Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Rosenblatt Securities boosted their price target on shares of Autodesk from $265.00 to $290.00 and gave the company a “buy” rating in a report on Friday, March 1st. Stifel Nicolaus reiterated a “buy” rating and set a $316.00 price objective on shares of Autodesk in a research note on Friday, April 12th. Finally, Oppenheimer boosted their price objective on shares of Autodesk from $265.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average price target of $272.44.

Autodesk Stock Performance

The company has a market cap of $45.05 billion, a PE ratio of 50.03, a P/E/G ratio of 3.14 and a beta of 1.43. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 1.23. The firm’s 50-day simple moving average is $252.86 and its two-hundred day simple moving average is $234.92.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.95 by $0.14. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.43 billion. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. As a group, research analysts anticipate that Autodesk, Inc. will post 5.38 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In related news, CAO Stephen W. Hope sold 1,757 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total value of $457,645.79. Following the completion of the transaction, the chief accounting officer now owns 3,450 shares in the company, valued at $898,621.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Stephen W. Hope sold 1,757 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the completion of the sale, the chief accounting officer now owns 3,450 shares in the company, valued at approximately $898,621.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $264.74, for a total transaction of $145,607.00. Following the sale, the director now owns 38,766 shares of the company’s stock, valued at approximately $10,262,910.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,666 shares of company stock valued at $10,090,055. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently bought and sold shares of ADSK. Norges Bank purchased a new stake in Autodesk in the 4th quarter valued at $619,404,000. Price T Rowe Associates Inc. MD raised its position in Autodesk by 480.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,785,264 shares of the software company’s stock valued at $371,621,000 after purchasing an additional 1,477,770 shares during the last quarter. Meritage Group LP purchased a new stake in Autodesk in the 3rd quarter valued at $170,972,000. Voya Investment Management LLC raised its position in Autodesk by 485.6% in the 4th quarter. Voya Investment Management LLC now owns 866,086 shares of the software company’s stock valued at $210,875,000 after purchasing an additional 718,198 shares during the last quarter. Finally, FIL Ltd raised its position in Autodesk by 19.6% in the 4th quarter. FIL Ltd now owns 2,921,044 shares of the software company’s stock valued at $711,216,000 after purchasing an additional 479,559 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

About Autodesk

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.