Autodesk (NASDAQ:ADSK – Get Free Report)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a report released on Friday, Benzinga reports. They currently have a $260.00 price target on the software company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 21.87% from the stock’s current price.
Several other equities analysts have also recently commented on the stock. Robert W. Baird upped their target price on shares of Autodesk from $230.00 to $239.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. KeyCorp increased their price objective on shares of Autodesk from $244.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Piper Sandler reaffirmed an “overweight” rating and set a $240.00 price objective on shares of Autodesk in a report on Thursday, August 24th. Stifel Nicolaus raised their price objective on shares of Autodesk from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Rosenblatt Securities raised their price objective on shares of Autodesk from $235.00 to $253.00 in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.28.
View Our Latest Research Report on Autodesk
Autodesk Price Performance
Autodesk (NASDAQ:ADSK – Get Free Report) last released its earnings results on Wednesday, August 23rd. The software company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.73 by $0.18. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Autodesk had a net margin of 16.77% and a return on equity of 90.61%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 EPS. On average, sell-side analysts expect that Autodesk will post 4.68 earnings per share for the current year.
Insider Buying and Selling at Autodesk
In other Autodesk news, CEO Andrew Anagnost sold 22,318 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $221.90, for a total value of $4,952,364.20. Following the completion of the sale, the chief executive officer now owns 99,327 shares in the company, valued at approximately $22,040,661.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Betsy Rafael sold 309 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $211.17, for a total value of $65,251.53. Following the transaction, the director now owns 4,472 shares of the company’s stock, valued at approximately $944,352.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Anagnost sold 22,318 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $221.90, for a total transaction of $4,952,364.20. Following the completion of the transaction, the chief executive officer now directly owns 99,327 shares in the company, valued at approximately $22,040,661.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,707 shares of company stock worth $6,139,461. 0.14% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC boosted its stake in Autodesk by 351.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,623 shares of the software company’s stock worth $775,000 after acquiring an additional 2,820 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Autodesk by 71.7% during the 1st quarter. Panagora Asset Management Inc. now owns 4,479 shares of the software company’s stock worth $960,000 after acquiring an additional 1,871 shares during the last quarter. Cetera Investment Advisers boosted its stake in Autodesk by 3.6% during the 1st quarter. Cetera Investment Advisers now owns 4,691 shares of the software company’s stock worth $1,006,000 after acquiring an additional 164 shares during the last quarter. Moors & Cabot Inc. bought a new position in Autodesk during the 1st quarter worth approximately $218,000. Finally, Dakota Wealth Management boosted its stake in Autodesk by 18.0% during the 1st quarter. Dakota Wealth Management now owns 1,915 shares of the software company’s stock worth $411,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 87.92% 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.
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