Autodesk (NASDAQ:ADSK) Trading Down 3.7%

Autodesk, Inc. (NASDAQ:ADSK)’s share price traded down 3.7% on Thursday . The stock traded as low as $206.83 and last traded at $206.97. 355,927 shares were traded during trading, a decline of 74% from the average session volume of 1,362,015 shares. The stock had previously closed at $214.92.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler lifted their price target on shares of Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Barclays lifted their price objective on shares of Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, March 1st. TheStreet raised shares of Autodesk from a “c+” rating to a “b-” rating in a report on Friday, December 29th. Piper Sandler Companies lifted their price objective on shares of Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Citigroup lifted their price objective on shares of Autodesk from $276.00 to $307.00 and gave the company a “buy” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $272.44.

Autodesk Stock Up 2.8 %

The stock has a market capitalization of $46.31 billion, a PE ratio of 51.43, a price-to-earnings-growth ratio of 2.95 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 fifty day moving average price is $251.86 and its two-hundred day moving average price is $234.97.

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

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the completion of the transaction, the director now directly owns 33,766 shares in the company, valued at $9,285,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the company’s stock in a transaction dated 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 SEC, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 5,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $275.00, for a total transaction of $1,375,000.00. Following the completion of the transaction, the director now owns 33,766 shares of the company’s stock, valued at approximately $9,285,650. The disclosure for this sale can be found here. Insiders sold 38,666 shares of company stock worth $10,090,055 over the last three months. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

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