Autodesk (NASDAQ:ADSK) Coverage Initiated at Macquarie

Macquarie initiated coverage on shares of Autodesk (NASDAQ:ADSK - Free Report) in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $380.00 price objective on the software company's stock.

A number of other brokerages also recently commented on ADSK. DA Davidson assumed coverage on shares of Autodesk in a report on Friday, September 27th. They set a "neutral" rating and a $260.00 price target for the company. Robert W. Baird lifted their target price on shares of Autodesk from $305.00 to $330.00 and gave the stock an "outperform" rating in a research note on Monday, November 18th. Mizuho increased their price target on Autodesk from $260.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 27th. Hsbc Global Res downgraded Autodesk from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. Finally, Piper Sandler increased their target price on Autodesk from $257.00 to $311.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Autodesk currently has a consensus rating of "Moderate Buy" and a consensus target price of $323.05.

Autodesk Price Performance

NASDAQ:ADSK traded up $2.29 during trading hours on Thursday, reaching $309.75. 582,833 shares of the company traded hands, compared to its average volume of 1,587,252. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm's 50-day moving average is $295.30 and its 200-day moving average is $262.63. The stock has a market cap of $66.60 billion, a P/E ratio of 61.33, a P/E/G ratio of 3.63 and a beta of 1.43. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business's revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 earnings per share. Equities research analysts expect that Autodesk will post 5.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In other news, CAO Stephen W. Hope sold 286 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the completion of the sale, the chief accounting officer now owns 4,879 shares of the company's stock, valued at approximately $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total transaction 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 represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,936 shares of company stock valued at $549,333 in the last ninety days. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Autodesk

Hedge funds and other institutional investors have recently modified their holdings of the stock. Livelsberger Financial Advisory acquired a new position in Autodesk in the third quarter worth $27,000. Concord Wealth Partners acquired a new position in Autodesk during the 3rd quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new position in shares of Autodesk during the third quarter worth about $28,000. Stephens Consulting LLC acquired a new stake in shares of Autodesk in the second quarter valued at approximately $32,000. Finally, GPS Wealth Strategies Group LLC increased its position in Autodesk by 94.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 136 shares of the software company's stock valued at $34,000 after acquiring an additional 66 shares during the period. 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.