Autodesk (NASDAQ:ADSK) Downgraded by Berenberg Bank to Hold

Berenberg Bank lowered shares of Autodesk (NASDAQ:ADSK) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. They currently have $295.00 price target on the software company’s stock.

ADSK has been the subject of several other reports. Oppenheimer upped their price objective on shares of Autodesk from $265.00 to $315.00 and gave the stock an outperform rating in a report on Friday, March 1st. KeyCorp upped their price objective on shares of Autodesk from $275.00 to $320.00 and gave the stock an overweight rating in a report on Friday, March 1st. Mizuho upped their target price on shares of Autodesk from $220.00 to $270.00 and gave the company a neutral rating in a research note on Friday, March 1st. The Goldman Sachs Group upped their target price on shares of Autodesk from $180.00 to $230.00 and gave the company a sell rating in a research note on Friday, March 1st. Finally, StockNews.com cut shares of Autodesk from a strong-buy rating to a buy rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $274.67.

Autodesk Stock Performance

ADSK stock opened at $210.71 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $45.40 billion, a price-to-earnings ratio of 50.05, a P/E/G ratio of 2.98 and a beta of 1.43. Autodesk has a 12 month low of $189.54 and a 12 month high of $279.53. The firm has a 50 day moving average of $245.02 and a two-hundred day moving average of $235.51.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.14. The business had revenue of $1.47 billion during 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%. Autodesk’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 EPS. As a group, equities analysts anticipate that Autodesk will post 5.38 EPS for the current fiscal year.

Insider Activity

In other news, CAO Stephen W. Hope sold 1,757 shares of the stock in a transaction 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 approximately $898,621.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other 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 sale, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Rebecca Pearce sold 1,628 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $251.54, for a total transaction of $409,507.12. Following the completion of the sale, the executive vice president now directly owns 13,620 shares in the company, valued at approximately $3,425,974.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,166 shares of company stock worth $9,465,055. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Autodesk

Large investors have recently made changes to their positions in the company. VisionPoint Advisory Group LLC grew its holdings in Autodesk by 21.5% during the 4th quarter. VisionPoint Advisory Group LLC now owns 237 shares of the software company’s stock worth $58,000 after acquiring an additional 42 shares during the last quarter. Bouvel Investment Partners LLC grew its holdings in Autodesk by 0.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 11,762 shares of the software company’s stock worth $2,864,000 after acquiring an additional 44 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Autodesk by 3.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,256 shares of the software company’s stock worth $306,000 after acquiring an additional 45 shares during the last quarter. Goodman Advisory Group LLC grew its holdings in Autodesk by 0.4% during the 4th quarter. Goodman Advisory Group LLC now owns 11,375 shares of the software company’s stock worth $2,770,000 after acquiring an additional 49 shares during the last quarter. Finally, Epic Trust Investment Advisors LLC grew its holdings in Autodesk by 3.7% during the 4th quarter. Epic Trust Investment Advisors LLC now owns 1,360 shares of the software company’s stock worth $331,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

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.