Autodesk (NASDAQ:ADSK) Lowered to Hold Rating by Hsbc Global Res

Hsbc Global Res lowered shares of Autodesk (NASDAQ:ADSK) from a strong-buy rating to a hold rating in a research report sent to investors on Friday,Zacks.com reports.

Several other equities research analysts also recently issued reports on ADSK. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Morgan Stanley raised their price target on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Royal Bank of Canada upped their price objective on shares of Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. BMO Capital Markets lifted their target price on shares of Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Oppenheimer boosted their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $315.10.

Autodesk Trading Up 0.4 %

NASDAQ ADSK opened at $291.90 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.64 and a current ratio of 0.65. Autodesk has a one year low of $195.32 and a one year high of $326.62. The company has a 50-day simple moving average of $289.93 and a 200-day simple moving average of $257.59. The firm has a market capitalization of $62.76 billion, a PE ratio of 57.92, a price-to-earnings-growth ratio of 3.71 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. Autodesk’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that Autodesk will post 5.74 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the transaction, the chief accounting officer now owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now directly owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,936 shares of company stock valued at $549,333. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Several hedge funds have recently modified their holdings of the business. Starboard Value LP bought a new position in Autodesk during the third quarter worth $510,189,000. Ninety One UK Ltd lifted its holdings in shares of Autodesk by 28.0% during the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock valued at $1,255,054,000 after acquiring an additional 1,108,973 shares during the period. Van ECK Associates Corp grew its stake in Autodesk by 100.9% during the second quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after buying an additional 825,165 shares during the last quarter. Point72 Asset Management L.P. grew its position in Autodesk by 366.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after acquiring an additional 662,339 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Autodesk by 58,375.5% in the 3rd quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock valued at $1,564,170,000 after acquiring an additional 566,826 shares in the last quarter. 90.24% of the stock is owned by institutional investors.

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.