Autodesk (NASDAQ:ADSK) Downgraded to Market Perform at Oppenheimer
Oppenheimer downgraded shares of Autodesk (NASDAQ:ADSK) from an outperform rating to a market perform rating in a research note issued to investors on Friday, BenzingaRatingsTable reports.
Several other analysts have also recently commented on ADSK. KeyCorp raised their target price on Autodesk from $191.00 to $210.00 and gave the company an overweight rating in a research report on Friday, January 10th. Wells Fargo & Co raised their target price on Autodesk from $200.00 to $240.00 and gave the company an overweight rating in a research report on Thursday. Canaccord Genuity raised their target price on Autodesk from $160.00 to $195.00 and gave the company a buy rating in a research report on Wednesday, November 27th. Barclays raised their target price on Autodesk from $173.00 to $195.00 and gave the company an overweight rating in a research report on Wednesday, November 27th. Finally, Sanford C. Bernstein cut Autodesk from an outperform rating to a market perform rating and raised their target price for the company from $189.00 to $197.00 in a research report on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Autodesk presently has a consensus rating of Hold and an average price target of $188.23.
ADSK traded up $0.85 during trading hours on Friday, hitting $193.35. The company’s stock had a trading volume of 2,347,904 shares, compared to its average volume of 1,331,931. Autodesk has a fifty-two week low of $129.70 and a fifty-two week high of $194.24. The firm has a market capitalization of $42.54 billion, a PE ratio of 1,757.73, a PEG ratio of 3.43 and a beta of 1.89. The company has a 50-day simple moving average of $183.99 and a 200 day simple moving average of $161.78.
In other Autodesk news, SVP Carmel Galvin sold 4,994 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $185.00, for a total transaction of $923,890.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.12% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Massey Quick Simon & CO. LLC boosted its stake in Autodesk by 235.5% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 208 shares of the software company’s stock valued at $31,000 after purchasing an additional 146 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Autodesk by 45.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 233 shares of the software company’s stock worth $34,000 after acquiring an additional 73 shares in the last quarter. Marquette Asset Management LLC boosted its stake in shares of Autodesk by 454.5% during the 3rd quarter. Marquette Asset Management LLC now owns 244 shares of the software company’s stock worth $36,000 after acquiring an additional 200 shares in the last quarter. Bridger Capital Management LLC bought a new stake in shares of Autodesk during the 3rd quarter worth $42,000. Finally, Usca Ria LLC bought a new stake in shares of Autodesk during the 3rd quarter worth $44,000. 95.00% of the stock is owned by hedge funds and other institutional investors.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
Featured Story: What is the Gross Domestic Product (GDP)?
Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.