Rosenblatt Securities Trims Autodesk (NASDAQ:ADSK) Target Price to $235.00

Autodesk (NASDAQ:ADSKGet Rating) had its target price cut by Rosenblatt Securities from $270.00 to $235.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the software company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 19.25% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Credit Suisse Group lowered their price objective on Autodesk from $355.00 to $325.00 and set an “outperform” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on Autodesk from $225.00 to $255.00 in a report on Thursday, August 25th. Wolfe Research assumed coverage on Autodesk in a report on Tuesday, August 16th. They issued an “outperform” rating and a $270.00 price target on the stock. Citigroup reduced their price target on Autodesk from $277.00 to $256.00 and set a “buy” rating on the stock in a report on Friday, November 18th. Finally, Barclays reduced their price target on Autodesk from $275.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $240.19.

Autodesk Price Performance

Shares of Autodesk stock opened at $197.07 on Wednesday. The firm has a market cap of $42.54 billion, a PE ratio of 69.64, a PEG ratio of 1.85 and a beta of 1.49. Autodesk has a 12 month low of $163.20 and a 12 month high of $285.38. The stock has a 50 day moving average of $201.56 and a 200 day moving average of $198.86. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 3.08.

Autodesk (NASDAQ:ADSKGet Rating) last posted its quarterly earnings data on Tuesday, November 22nd. The software company reported $1.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.70. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. Autodesk had a return on equity of 113.63% and a net margin of 12.64%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the company earned $0.68 EPS. On average, research analysts expect that Autodesk will post 4.13 EPS for the current fiscal year.

Insider Activity

In other news, CEO Andrew Anagnost sold 34,366 shares of Autodesk stock in a transaction on Monday, August 29th. The stock was sold at an average price of $206.87, for a total value of $7,109,294.42. Following the transaction, the chief executive officer now directly owns 76,968 shares in the company, valued at approximately $15,922,370.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ADSK. Venture Visionary Partners LLC acquired a new stake in shares of Autodesk in the 2nd quarter worth $30,000. TD Capital Management LLC acquired a new stake in shares of Autodesk in the 3rd quarter worth $30,000. Resources Management Corp CT ADV boosted its position in shares of Autodesk by 1,100.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 180 shares of the software company’s stock worth $31,000 after purchasing an additional 165 shares in the last quarter. CNB Bank boosted its position in shares of Autodesk by 107.9% in the 2nd quarter. CNB Bank now owns 185 shares of the software company’s stock worth $32,000 after purchasing an additional 96 shares in the last quarter. Finally, First Manhattan Co. boosted its position in shares of Autodesk by 342.9% in the 1st quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after purchasing an additional 120 shares in the last quarter. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Company Profile

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Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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