Autodesk (NASDAQ:ADSK) Rating Lowered to Hold at HSBC

HSBC downgraded shares of Autodesk (NASDAQ:ADSK) from a buy rating to a hold rating in a research note released on Friday, Marketbeat.com reports. They currently have $290.00 price target on the software company’s stock.

Other analysts have also issued reports about the stock. Rosenblatt Securities raised their price objective on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Royal Bank of Canada raised their target price on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. DA Davidson initiated coverage on Autodesk in a research note on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target on the stock. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and raised their price objective for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Finally, Citigroup boosted their target price on shares of Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and twelve 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 $315.10.

Autodesk Price Performance

Shares of ADSK stock 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 fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm has a market cap of $62.76 billion, a P/E ratio of 57.92, a P/E/G ratio of 3.73 and a beta of 1.47. The business’s 50 day moving average price is $289.93 and its 200-day moving average price is $258.15.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating 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 business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the business posted $1.33 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that Autodesk will post 5.79 earnings per share for the current year.

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. The trade was a 1.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,936 shares of company stock valued at $549,333 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Autodesk

Hedge funds have recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new stake in shares of Autodesk in the first quarter worth $26,000. Olistico Wealth LLC purchased a new stake in shares of Autodesk during the 2nd quarter valued at about $26,000. Pacifica Partners Inc. lifted its stake in shares of Autodesk by 83.3% in the 2nd quarter. Pacifica Partners Inc. now owns 110 shares of the software company’s stock worth $27,000 after purchasing an additional 50 shares during the period. Livelsberger Financial Advisory bought a new stake in Autodesk during the third quarter valued at approximately $27,000. Finally, Concord Wealth Partners purchased a new stake in Autodesk during the third quarter valued at approximately $28,000. 90.24% of the stock is currently 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.