Autodesk (NASDAQ:ADSK) Reaches New 1-Year High – Here’s What Happened

Autodesk, Inc. (NASDAQ:ADSK)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $304.31 and last traded at $304.31, with a volume of 66585 shares changing hands. The stock had previously closed at $291.79.

Analyst Upgrades and Downgrades

ADSK has been the topic of a number of recent research reports. Bank of America lifted their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Piper Sandler raised their target price on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Hsbc Global Res raised shares of Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley restated an “overweight” rating and set a $320.00 price target on shares of Autodesk in a report on Monday, September 30th. Finally, Citigroup set a $325.00 target price on shares of Autodesk and gave the company a “buy” rating in a research report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.95.

Autodesk Trading Up 3.5 %

The firm’s fifty day moving average is $273.11 and its two-hundred day moving average is $246.64. The firm has a market cap of $64.92 billion, a P/E ratio of 59.67, a PEG ratio of 3.64 and a beta of 1.47. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts predict that Autodesk, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $248.18, for a total transaction of $136,499.00. Following the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at $7,916,693.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Autodesk news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the sale, the chief accounting officer now directly owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $248.18, for a total transaction of $136,499.00. Following the transaction, the director now directly owns 31,899 shares of the company’s stock, valued at $7,916,693.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,280 shares of company stock valued at $5,200,929. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Autodesk

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Autodesk by 263.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,294,746 shares of the software company’s stock valued at $1,639,279,000 after purchasing an additional 4,563,668 shares during the last quarter. Ninety One UK Ltd raised its stake 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 valued at $1,255,054,000 after acquiring an additional 1,108,973 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Autodesk by 100.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,642,973 shares of the software company’s stock worth $406,554,000 after acquiring an additional 825,165 shares during the last quarter. Point72 Asset Management L.P. raised its position in Autodesk by 366.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 843,040 shares of the software company’s stock worth $208,610,000 after purchasing an additional 662,339 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Autodesk by 58,375.5% in the third quarter. International Assets Investment Management LLC now owns 567,797 shares of the software company’s stock worth $1,564,170,000 after purchasing an additional 566,826 shares during the last quarter. 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.