Autodesk (NASDAQ:ADSK) Downgraded to Hold Rating by HSBC

Autodesk (NASDAQ:ADSK) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. They presently have a $290.00 price objective on the software company’s stock. HSBC’s price target points to a potential downside of 0.22% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Citigroup upped their price objective on shares of Autodesk from $325.00 to $358.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Mizuho increased their price target on Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday. Piper Sandler boosted their price objective on Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a report on Wednesday. DA Davidson started coverage on Autodesk in a research report on Friday, September 27th. They set a “neutral” rating and a $260.00 target price on the stock. Finally, Scotiabank initiated coverage on shares of Autodesk in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target for the company. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.95.

Autodesk Stock Performance

Shares of Autodesk stock opened at $290.64 on Friday. The company has a market cap of $62.49 billion, a P/E ratio of 59.44, a PEG ratio of 4.08 and a beta of 1.47. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $289.44 and a two-hundred day moving average price of $257.07. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results 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 firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 earnings per share. As a group, analysts anticipate that Autodesk will post 5.73 EPS for the current year.

Insider Buying and Selling at Autodesk

In related news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $274.84, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,936 shares of company stock worth $549,333 over the last three months. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

Several large investors have recently modified their holdings of the business. State Street Corp boosted its holdings in Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares during the period. FMR LLC lifted its position in shares of Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after acquiring an additional 46,069 shares in the last quarter. Ninety One UK Ltd boosted its holdings in shares of Autodesk by 28.0% in the second quarter. Ninety One UK Ltd now owns 5,071,950 shares of the software company’s stock worth $1,255,054,000 after acquiring an additional 1,108,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Autodesk by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock valued at $657,292,000 after purchasing an additional 61,785 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Autodesk by 12.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares during the period. Hedge funds and other 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.