Autodesk (NASDAQ:ADSK) Cut to “Hold” at Hsbc Global Res

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

Several other brokerages also recently weighed in on ADSK. Mizuho upped their target price on shares of Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Citigroup increased their target price on Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp lifted their target price on Autodesk from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. DA Davidson started coverage on shares of Autodesk in a report on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective for the company. Finally, Oppenheimer lifted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $315.10.

Autodesk Stock Performance

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. The stock has a 50-day simple moving average of $289.93 and a two-hundred day simple moving average of $258.15. The firm has a market capitalization of $62.76 billion, a PE ratio of 57.92, a P/E/G ratio of 3.73 and a beta of 1.47. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the firm posted $1.33 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts forecast that Autodesk will post 5.79 EPS for the current year.

Insiders Place Their Bets

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the sale, the director now owns 31,349 shares in the company, valued at $8,323,159.50. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at $1,340,944.36. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,936 shares of company stock valued at $549,333 over the last three months. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Autodesk

A number of institutional investors have recently modified their holdings of ADSK. Franklin Resources Inc. grew its stake in Autodesk by 36.5% in the third quarter. Franklin Resources Inc. now owns 1,448,968 shares of the software company’s stock worth $413,405,000 after purchasing an additional 387,309 shares in the last quarter. Synovus Financial Corp grew its position in shares of Autodesk by 3.4% during the 3rd quarter. Synovus Financial Corp now owns 12,785 shares of the software company’s stock worth $3,522,000 after buying an additional 421 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Autodesk by 245.4% during the third quarter. Tidal Investments LLC now owns 77,008 shares of the software company’s stock valued at $21,214,000 after buying an additional 54,712 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Autodesk in the third quarter valued at about $4,751,000. Finally, World Investment Advisors LLC purchased a new stake in Autodesk in the third quarter worth about $3,923,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.