Autodesk (NASDAQ:ADSK) Upgraded to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Autodesk (NASDAQ:ADSK) from a sell rating to a neutral rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The Goldman Sachs Group currently has $295.00 target price on the software company’s stock, up from their prior target price of $225.00.

Several other research analysts also recently weighed in on ADSK. Robert W. Baird cut their price target on Autodesk from $296.00 to $289.00 and set an outperform rating for the company in a research note on Wednesday, May 29th. KeyCorp reissued an overweight rating and issued a $305.00 price target on shares of Autodesk in a report on Monday, August 26th. Royal Bank of Canada increased their target price on shares of Autodesk from $290.00 to $313.00 and gave the stock an outperform rating in a research note on Friday, August 30th. Berenberg Bank boosted their target price on Autodesk from $286.00 to $299.00 and gave the stock a hold rating in a research report on Friday, August 30th. Finally, BMO Capital Markets increased their price target on shares of Autodesk from $254.00 to $287.00 and gave the stock a market perform rating in a report on Friday, August 30th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $292.17.

Autodesk Stock Down 0.6 %

Autodesk stock opened at $250.37 on Tuesday. The company has a market capitalization of $53.96 billion, a PE ratio of 54.19, a PEG ratio of 3.45 and a beta of 1.48. Autodesk has a 12-month low of $192.01 and a 12-month high of $279.53. The firm’s fifty day moving average is $247.13 and its 200 day moving average is $239.22. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.06.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 64.61% and a net margin of 18.21%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Autodesk will post 5.55 EPS for the current fiscal year.

Insider Transactions at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,413 shares of Autodesk stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the transaction, the chief operating officer now owns 54,136 shares in the company, valued at $12,256,390.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Steven M. Blum sold 17,413 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $226.40, for a total transaction of $3,942,303.20. Following the completion of the sale, the chief operating officer now directly owns 54,136 shares of the company’s stock, valued at approximately $12,256,390.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 1,100 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $226.21, for a total transaction of $248,831.00. Following the sale, the director now directly owns 32,116 shares of the company’s stock, valued at approximately $7,264,960.36. The disclosure for this sale can be found here. Insiders sold 57,275 shares of company stock worth $14,220,661 over the last 90 days. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. acquired a new position in Autodesk during the 4th quarter valued at approximately $25,000. Concord Wealth Partners acquired a new stake in shares of Autodesk in the 1st quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new position in Autodesk during the 1st quarter valued at $25,000. LRI Investments LLC bought a new position in shares of Autodesk in the first quarter valued at $26,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Autodesk during the second quarter valued at $26,000. 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.